You can use a repayment agreement (also known as a ‘repayment plan’ or ‘debt repayment plan’) if someone owes you money and:
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you have sent them payment reminders
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the debtor accepts that they owe you money, and
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they are willing to make arrangements for the debt to be repaid
As a debtor, you can offer to use a repayment agreement if:
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you owe money to a creditor
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you want to repay the debt and want to make arrangements for the repayment, and
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your creditor agrees to a repayment plan