Here is a sample template you can use to write a debt payment agreement letter.
The debt payment agreement attached with this notice states the terms and conditions governing the newly set up debt between the [lender] and the [borrower]. The lender has its principal place of business at [address] and borrower resides at [address].
Both the [lender] and the [borrower] agree on mutual interest to clear the debt according to the attached agreement. [Debtor] agrees and acknowledges of indebtedness to [creditor] to the extent of the full amount of the debt.
The debt settlement shall be made in the form of installments beginning from [date]. Installments shall be made according to the schedules attached hereto.
Your cooperation in this regard is anticipated.
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