_____________________________ (hereafter “Creditor”) and ________________________ (hereafter “Debtor”) hereby agree to the following:<\/p>\n\n\n\n
That the Debtor owes the creditor a sum of {total sum}<\/strong>, including {charges}<\/strong> and {late fees}<\/strong>.<\/p>\n\n\n\n That both parties are amenable to a compromise of the debt and terminating the late notice and pursuit of payment collection.<\/p>\n\n\n\n Therefore, the Creditor and Debtor agree that the Debtor shall pay the Creditor the lesser amount of {lesser amount} {in installments of X amount\/in one lump sum}<\/strong>.<\/p>\n\n\n\n Upon receiving payment of {lesser amount}<\/strong>, the Creditor agrees to consider all of the Debtor’s debts, claims, and liens fully paid; to terminate the Debtor’s late notice from the system; and to withdraw all employees, associates, and accompanying creditors from pursuit of payment.<\/p>\n\n\n\n The Debtor may pay in {payment types}<\/strong>. The Debtor must pay {the full amount\/the first installment}<\/strong> to the Creditor no later than {date}<\/strong>. If the Debtor does not pay by {date}<\/strong>, this agreement will be deemed null and void, and the Debtor will be required to pay the full amount, due immediately.<\/p>\n\n\n\n In witness to their agreement to the terms of this contract, the parties affix their signatures below:<\/p>\n\n\n\n ____________________________________ ____________________________________
Creditor, signature & date<\/p>\n\n\n\n
Debtor, signature & date<\/p>\n\n\n\n