What is a payment plan agreement form?
A payment plan agreement form is an online document made between a lender and a borrower to divide debt into installments. Usually, when there is a large amount, this amount is divided into small parts to facilitate the debtor's payment.
Creating your own payment plan agreement form
You will hardly find a better place to create your own form and share it than forms.app because forms.app offers you many customization options. After you open the edit page, you build your form at each step. Below you can see these build steps:
- After using the payment plan agreement form template, you will be directed to the Edit page. You can add, move or delete form fields here.
- Design your form. Make a plain form design since it is a legal document.
- Adjust the settings.
- Share your form. You can choose from many sharing options: Sharing it on your website, social media, or via e-mail.
What should a payment plan agreement form include?
After starting quickly with the template offered by forms.app, you can change your form according to the type of payment. Also, don't forget to edit the fields that must be added or subtracted according to your country's laws. Generally, a payment plan agreement form should contain:
- Names and addresses of both lender and borrower
- The payment amount and interest amount
- Repayment deadline and payment method
- An area for the signatures of both parties
- Payment schedule