Have Questions About This Letter?
Book a 30-minute call with one of our experts. You’re in safe, experienced hands.
Letter of agreement to revised payment terms
What is a letter of agreement to revised payment terms and when should you use it?
You should use this letter to provide the debtor with a letter stating that the revised payment terms are in full settlement of the debt owing.
Our advise would be that you don’t provide such a letter unless you are comfortable doing so and the debtor has specifically requested it.
Your acceptance of proposed payment terms to pay a debt that is already due is not legally binding and therefore you can pursue the balance of any debt at a later stage if you so wish.
Your written agreement to accept payment of a debt in final settlement prevents this course of action in the future.
Can’t find what you are looking for?
This service is your service.
If there is content you cannot find on our Hub simply email us your request and we’ll get you sorted.
If there is content you cannot find on our Hub simply email us your request and we’ll get you sorted.
