When you agree on credit repayments with your debtors, you can use this Credit Agreement Letter sample template to document and formalize the agreement.
[Sender’s Name]
[City, State and Zip Code]
[Mobile Number]
[Date]
[Recipient’s Name]
[City, State and Zip Code]
[Mobile Number]
Reference: Credit Agreement Letter
Dear [Recipent’s Name],
This credit agreement has been entered between [Creditor] of identification number [Numberr] and [Debtor’s Name] of identification number on [Date]. The debtor hereby agrees to pay the full owed amount of [Amount] on or before [Date].
After this date, the amount owed will accrue penalties and interest as agreed by both parties. A copy of the agreement will be shared with your bank to allow for overdrafts for easier payment. We look forward to a mutually beneficial arrangement.
Sincerely,
[Sender’s Signature]
[Sender’s Name]
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