Acceptance of delayed payment schedule [Date] [Name] [Address] Dear [Name] Thank you for your letter of (date), outlining your present financial circumstances. We agree to extend your credit facilities on this occasion and confirm that the outstanding amount of (amount) will be settled fully by (date). However if payment is not made by this date, we will have to pass the matter to our legal representatives with instructions to take the necessary actions to recover the debt. Yours Sincerely [Your Name] [Your Title]