All Countries
Banking
Debt Payment Plan Agreement

Debt Payment Plan Agreement Template for Belgium

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Debt Payment Plan Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Debt Payment Plan Agreement

"I need a Debt Payment Plan Agreement for a €50,000 business debt to be repaid in monthly installments starting March 2025, with early repayment options and a 3% annual interest rate, governed by Belgian law."

Celebrated by
Collaborations with
Investors
Document background
The Debt Payment Plan Agreement is a critical legal instrument used in Belgian jurisdiction when parties need to formalize arrangements for the systematic repayment of debt. This document is particularly relevant when a debtor requires a structured approach to settle outstanding obligations, whether in a business or personal context. It combines the requirements of Belgian civil law, consumer protection regulations, and debt settlement legislation to create a legally compliant framework. The agreement typically includes detailed payment schedules, interest calculations, default provisions, and remedies, while ensuring adherence to Belgian consumer credit laws and fair practice requirements. It's commonly used in various scenarios, from business-to-business debt restructuring to consumer debt management, and can be adapted to accommodate both simple and complex payment arrangements.
Suggested Sections

1. Parties: Identification of the creditor and debtor, including full legal names, addresses, and registration details if applicable

2. Background: Brief description of the circumstances leading to the debt and the parties' intention to enter into a payment plan

3. Definitions: Definitions of key terms used throughout the agreement

4. Acknowledgment of Debt: Clear statement of the total debt amount and its origin

5. Payment Plan Terms: Detailed payment schedule, including payment amounts, frequency, and duration

6. Payment Methods: Accepted methods of payment and payment processing details

7. Interest and Fees: Specification of any applicable interest rates and additional fees

8. Default Provisions: Consequences of missing payments and definition of what constitutes default

9. Early Payment Provisions: Terms and conditions for early repayment of the debt

10. Representations and Warranties: Basic statements of fact and promises made by both parties

11. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction

12. Notices: How formal communications between parties should be made

13. General Provisions: Standard legal clauses including severability, entire agreement, and amendments

Optional Sections

1. Guarantor Provisions: To be included when a third party guarantees the debt payments

2. Collateral Security: Required when specific assets are pledged as security for the debt

3. Insurance Requirements: Included when payment protection or other insurance is required

4. Debt Counseling Provisions: Required when the debtor is under debt counseling or mediation

5. Tax Implications: To be included when there are specific tax considerations for the payment plan

6. Third-Party Authorization: When payments will be made by or through a third party

7. Hardship Provisions: Optional terms for temporary payment modifications in case of financial hardship

Suggested Schedules

1. Schedule A - Debt Breakdown: Detailed itemization of the debt components including principal, interest, and any fees

2. Schedule B - Payment Schedule: Detailed calendar of payment dates and amounts

3. Schedule C - Direct Debit Authorization: Form for automatic payment setup if applicable

4. Schedule D - Supporting Documentation: Copies of original debt documentation or court orders

5. Appendix 1 - Contact Details: Comprehensive contact information for all relevant parties

6. Appendix 2 - Glossary of Terms: Extended definitions of technical or financial terms used

7. Appendix 3 - Default Notification Forms: Standard forms for notification of default or payment issues

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Business Day
Creditor
Debt
Debt Documentation
Debtor
Default
Default Interest Rate
Due Date
Early Payment
Effective Date
Event of Default
Final Payment Date
Force Majeure
Guarantor
Initial Payment
Installment Payment
Interest Rate
Late Payment
Material Adverse Change
Notice
Original Debt
Outstanding Balance
Parties
Payment Date
Payment Method
Payment Plan
Payment Schedule
Principal Amount
Regulatory Authority
Relevant Interest Rate
Repayment Period
Security
Settlement Amount
Term
Total Debt Amount
Working Day
Relevant Industries

Banking & Financial Services

Retail

Commercial Real Estate

Healthcare

Education

Professional Services

Manufacturing

Construction

Telecommunications

Utilities

Small Business

Non-Profit Organizations

Relevant Teams

Legal

Finance

Credit Control

Collections

Risk Management

Treasury

Compliance

Customer Service

Accounts Receivable

Corporate Banking

Relevant Roles

Credit Manager

Financial Controller

Collections Manager

Accounts Receivable Manager

Risk Manager

Legal Counsel

Debt Recovery Specialist

Financial Director

Credit Controller

Treasury Manager

Compliance Officer

Contract Administrator

Chief Financial Officer

Debt Counselor

Business Development Manager

Industries
Belgian Civil Code (Code Civil/Burgerlijk Wetboek): Fundamental law governing contracts, obligations, and general principles of civil law in Belgium. Articles 1101-1369 specifically deal with contracts and conventional obligations.
Law of 12 June 1991 on Consumer Credit: Regulates consumer credit agreements and provides protection for consumers in credit transactions, including requirements for payment plans and credit terms.
Collective Debt Settlement Act of 5 July 1998: Provides framework for debt settlement procedures and judicial debt mediation, including guidelines for payment plans and debt restructuring.
Economic Law Code Book VII - Payment and Credit Services: Contains provisions regarding payment services, credit agreements, and financial services, including regulations on payment terms and conditions.
Law of 2 August 2002 on Late Payments in Commercial Transactions: Sets rules regarding payment terms, interest rates for late payments, and compensation for collection costs.
Belgian Law on Unfair Contract Terms (WHPC): Protects against unfair terms in contracts, ensuring balance between parties' rights and obligations in payment arrangements.
Royal Decree of 23 March 1995 on Price Indications: Regulates how prices, interest rates, and payment terms must be communicated in agreements.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Debt Payment Plan Agreement

A Belgian law-governed agreement establishing a structured payment plan for debt settlement between creditor and debtor.

find out more

Repayment Plan Agreement

A Belgian law-governed agreement establishing structured debt repayment terms between creditor and debtor, including payment schedules and obligations.

find out more

Payment Plan Contract

A Belgian law-governed agreement establishing structured payment terms between parties, detailing payment schedules and obligations in compliance with Belgian legal requirements.

find out more

Payment Agreement

A Belgian law-governed agreement establishing payment terms and conditions between parties, ensuring compliance with Belgian Civil Code and EU regulations.

find out more

Contract For Payment Agreement

A Belgian law-governed agreement establishing formal payment terms and obligations between parties, including payment schedules, interest rates, and default provisions.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.