Acknowledgement of Debt – more than 1 debtor, payment in instalments

This Acknowledgement of Debt can be used where a debt is owed by more than 1 person, where all the debtors are liable for paying the debt. This Acknowledgement of Debt is a confirmation of the debt that is due, and specifies that the debt is payable in instalments over an agreed period of time.  

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The Acknowledgement of Debt confirms that a debt is due, and constitutes an undertaking by the Debtors to pay the debt off in instalments. If the debt is not paid as agreed, the creditor can use the Acknowledgement of Debt to take further action.

If your business has debtors that owe money, this Acknowledgement of Debt can be used to confirm the amount owed and the agreed payment structure. 

The agreement can be printed onto one A4 page.