AGREEMENT TO EXTEND
DEBT PAYMENT
FOR VALUE RECEIVED, the undersigned, _ [Creditor] and _
[Company], hereby acknowledge and agree that:
1. The Company presently owes the Creditor the sum of
$_, said sum being presently due and payable.
2. In further consideration of the Creditor’s
forebearance, the Company agrees to pay said debt on
extended terms in the manner following:
_
3. In the event the Company fails to make any payments
punctually on the agreed extended terms, the Creditor
shall have full rights to proceed for the collection
of the entire balance then remaining.
4. This agreement shall be binding upon and …

AGREEMENT TO COMPROMISE DEBT
FOR VALUE RECEIVED, the undersigned being a creditor of _
[Company] hereby enters into an agreement to compromise and
reduce the indebtedness due the undersigned on the following
terms and conditions:
1. The Company and the undersigned acknowledge that the
present debt due is $_.
2. The parties agree that the undersigned shall accept the
sum of $_ as full and total payment on said debt and in
complete discharge of all monies presently due,
provided the sum herein shall be punctually paid in
the manner following:
_
3. In the event the Company fails to punctually pay the
reduced …