Make your Free
Payment Plan

  • Answer simple questions to make your document
  • Sign & share your document online
  • Save progress and finish on any device; download & print at home

How it works

  • Build your
  • Save, print
    & share
  • Sign it &
    Make it legal
Sample Payment Plan Form Template
How it Works
Build your Document
Save, Print & Share
Sign it & make it legal


rocket lawyer 5 star rating

Kasia M.

"Rocket Lawyer is a helpful tool for professionals who need legal documents at an affordable price."

Payment Plan basics

Paying back debt poses more of a challenge to businesses and individuals as the coronavirus pandemic continues. Consequently, requests for deferral of debt payments are increasing, as well. If someone owes you a debt and can't make payments on time due to the COVID-19, this document can be used to outline your terms for the deferral and repayment of debt installments.

If you have questions about collecting debts in light of COVID-19, ask a lawyer or find more resources in our Coronavirus Legal Center.

Use the Payment Plan document if:

  • You are a creditor whose debtor can't pay on time
  • You have been asked by your debtor to defer payments
  • You want to set out the terms of the debt repayment
  • You want to offer a discount in exchange for specific services
  • Creating a Payment Plan can help both parties avoid conflict by outlining clear rules for the repayment of deferred debt. This agreement will detail when the deferral period starts, the duration of the deferral period, the installment amount, and when installments are to be paid. The agreement also allows you to offer a discount on deferred debt in exchange for the performance of specialized services or repairs.

    While this document is intended to support those who have been unexpectedly laid off or furloughed due to COVID-19, you should only enter into this agreement if you believe the other party will make a good faith effort to repay the debt.

    Other names for this document: General Repayment Plan, Deferral Agreement, Temporary Reduced Payment Agreement, Deferred Payment Plan

    Read {{ showMore ? 'Less' : 'More' }}

    Sample Payment Plan

    Coronavirus Legal Answers

    In this challenging and uncertain time, Rocket Lawyer and our attorneys nationwide, are here to help.

    Characters remaining: 600

    Ready to make your Free Payment Plan?

    Make, share, and sign this document for free. No credit card required.

    Meet ALL your legal needs with a Rocket Lawyer membership.
    Document Defense®
    Have an attorney ready to defend your document
    Document Review
    Review up to 6 documents a year with an attorney
    Ask a Lawyer
    Get 2 Q&A sessions with an attorney every month
    1-on-1 Legal Advice
    Enjoy 30-minute consultations  on each new legal matter
    Exclusive Discounts
    Save on additional legal services from our nationwide network of lawyers
    Unlimited Documents
    Access hundreds of legal documents, plus extra features like electronic signatures