An agreement letter to pay debt is an official document that outlines the terms of payment for an outstanding debt. It can be between a creditor and a borrower, or between two parties involved in a dispute over a past due amount. The details of the agreement should include the total amount owing, the payment timeline, settlement amounts, and late penalty fees, if applicable. This document should also clearly define the terms of the arrangement, such as interests rates and other relevant information. With this agreement letter in place, both parties benefit from having a commitment that meets their needs and establishes expectations for the payment relationship.