Legal & declarations
Payment undertaking template (US)
A general template under US law. Laws differ from state to state, so check it against your state's law or with a lawyer licensed there. We are not a law firm and do not give legal advice.
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Preview — US standard
Promise to Pay Agreement
This Promise to Pay Agreement is made on Agreement Date by Debtor Full Name, of Debtor Address ("Debtor"), in favor of Creditor Full Name, of Creditor Address ("Creditor").
1. Amount Owed
Debtor acknowledges owing Creditor $Amount Owed for Reason for the Debt (the "Debt"), and does not dispute this amount.
2. Payment Plan
Debtor promises to pay the Debt as follows:
| Payment | Due Date | Amount |
| --- | --- | --- |
| 1 | First Due Date | $First Payment Amount |
| 2 | Second Due Date | $Second Payment Amount |
| 3 | Third Due Date | $Third Payment Amount |
Payments will be made by Payment Method to Payment Details. Interest: Interest Rate or None, not more than the law allows. Debtor may pay early without penalty.
3. Late Payment
If a payment is more than Grace Days days late, Creditor may give written notice. If it is not paid within Cure Days days after the notice, the full unpaid balance becomes due at once, and Creditor may seek to collect it, with court costs and, where the law allows, reasonable attorney's fees.
4. Settlement
As long as Debtor makes all payments on time, Creditor will not take legal action to collect the Debt. When all payments are made, the Debt is fully paid and Creditor will confirm this in writing.
5. Governing Law
This Agreement is governed by the laws of the State of Governing State.
| Debtor | Creditor |
| --- | --- |
| Signature: Debtor Signature | Signature: Creditor Signature |
| Name: Debtor Printed Name | Name: Creditor Printed Name |
| Date: Debtor Signing Date | Date: Creditor Signing Date |