Who it's for
- Businesses and individuals agreeing a payment plan with someone who owes them money
- Debtors who want the agreed plan in writing
- Suitable for simpler debts — the template suggests up to about £5,000
What's included
- About this template — why an agreed plan helps both sides, and the Breathing Space check
- Debt repayment agreement (5 clauses): acknowledgement of debt, agreed repayment plan table, interest, default, governing law
- Signatures for creditor and debtor
Save with a bundle: get this plus 9 more documents in the Debt and Consumer Bundle for £39.99.
See what's in the bundle →Key points covered
- The debtor acknowledges the full amount and its source
- A schedule of instalments with due dates and running balance
- Choose whether interest stops while payments are kept up
- If a payment is missed, the creditor can demand the balance on 7 days' notice
- Check the debtor is not in a Breathing Space moratorium before agreeing terms
- The agreement does not settle the debt for less — that needs a signed full and final settlement
DocPilot templates are drafted from current legislation and official guidance (GOV.UK, legislation.gov.uk and the relevant regulators), checked against those sources and fully re-reviewed every six months. They are not legal advice. How we make our documents →
Read the guide
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Questions
Is a repayment agreement legally binding?
Yes, once both sides sign it. It is clear evidence of the debt and the agreed plan.
What if the debtor misses a payment?
Clause 4 lets the creditor give 7 days' notice and demand the full remaining balance, and pursue other remedies.
Can I stop interest while they pay?
Yes. Clause 3 lets you choose whether interest stops or continues.
Is it in the Debt and Consumer Bundle?
Yes. The Debt Repayment Agreement is one of the 10 documents in the bundle.
Debt Repayment Agreement
£9.99 · Word + PDF · instant download
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