AGREEMENT TO EXTEND DEBT PAYMENT

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Please find the contract of Agreement Extend Debt Payment below

THIS DEED is made the ________day of _______________19_________

BETWEEN:

(1)____________________of____________________ ( the “customer”) and

(2)____________________of____________________ ( the “creditor”)

WHEREAS:

(A)The customer and the creditor acknowledge that the customer is indebted to the creditor in the sum of £_____(the “debt”), which sum is now due and payable.

(B) The creditor agrees to extend the term for payment of the debt
NOW THIS DEED WITNESSES as follows:

1. The creditor agrees to the payment of the debt on extended terms, together with interest on the unpaid balance at the rate of __________% per annum, payable in the following manner: ____________________________________________________________________ ___________________________________________________________________

2. The customer agrees to pay the debt to the creditor together with interest thereon under the terms set out in paragraph 1.

3. In the event the customer shall fail to make any payment on the due date, the creditor shall have full rights to collect the entire balance then remaining which amount shall be immediately due and payable.

4. In the event of default, the customer agrees to pay all reasonable solicitors fees and costs of collection.

5. At the election of the creditor, the customer agrees to execute note(s) evidencing the balance then due on terms consistent with this agreement.

6. This agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns.

IN WITNESS OF WHICH the parties have executed this deed the day and year first above

(Individual)
________________________________
Signed by the customer
_______________________________
In the presence of (witness)
Name
_______________________________
Address
______________________________________________________________
Occupation
________________________________
Signed by the creditor
_______________________________
In the presence of (witness)
Name
_______________________________
Address
_______________________________
_______________________________
Occupation
(Company)
______________________________
Signed for and on behalf of:
___________________________
(In the presence of (witness)
_______________________________
Director
____________________________Occupation
______________________________
Signed for and on behalf of:
___________________________Director
____________________________
Occupation

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