Debt Repayment Agreements
The documents in this folder have been drafted to help businesses who are owed money by their customers. If you are in this position, the ideal place to start is the Guidance Notes: Debt Recovery and Taking Legal Action. These Guidance Notes run through possible courses of action when debts are outstanding. The Guidance Notes include reference to debt respite legislation which provides some protection from debt collection for certain individual debtors, and you will need to consider whether and how it applies before you take any steps aimed at obtaining payment.
This folder focuses on the recovery of debt when a customer accepts that the debt is due and wishes to make arrangements for it to be repaid. The repayment agreements below can be used to agree instalment payments, give an extension of time for the debt to be repaid and arrange for a third party to step into the customer’s shoes and repay the debt.
All these documents are professionally drafted, are in Microsoft Word format and can be edited as required.