Creditors, you can extend the amount of time in which a borrower pays back their indebtedness with this Agreement to Extend Debt Payment.

The repayment period is extended to give the borrower more time, provided that all payments are made on time. If the borrower fails to make a payment when it comes due, the creditor will have the right to sue for the full amount.

This generic creditor agreement is provided in MS Word format, and is fully editable to fit your specific circumstances.