[{"data":1,"prerenderedAt":502},["ShallowReactive",2],{"document-offer-to-loan-customers-to-move-december-payment-D422":3},{"document":4,"label":24,"preview":11,"thumb":25,"thumb600":26,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":27,"breadcrumb":31,"related":39,"customDescModule":181,"customdescription":6,"mdFm":182,"mdProseHtml":501},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":16,"keywords":15},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: OFFER TO MOVE DECEMBER PAYMENT Dear [Contact name], [Name of firm or institution] wants you to have a wonderful holiday season. We know that this is often a difficult period for many of our customers, inasmuch as in addition to their regular obligations there are so many nice things to do for their loved ones. Therefore, we are offering all of our loan customers the opportunity to move their December loan payment to the end of their loan in order to free up those funds for the holidays",null,"Offer to Loan Customers to Move December Payment","1",513,"doc","https://templates.business-in-a-box.com/imgs/1000px/offer-to-loan-customers-to-move-december-payment-D422.png","https://templates.business-in-a-box.com/imgs/250px/422.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#422.xml",{"title":15,"description":6},"offer to loan customers to move december payment",[17,20,23],{"label":18,"url":19},"Finance & Accounting","/templates/finance-accounting/",{"label":21,"url":22},"Business Loans","/templates/business-loan/",{"label":21,"url":22},"Offer to Loan Customers to Move December Payment Template","https://templates.business-in-a-box.com/imgs/400px/422.png","https://templates.business-in-a-box.com/imgs/600px/422.png",[28,17,20,23],{"label":29,"url":30},"Templates","/templates/",[32,33,36],{"label":29,"url":30},{"label":34,"url":35},"Legal Agreements","/templates/business-legal-agreements/",{"label":37,"url":38},"Loans & Promissory Notes","/templates/loans-and-promissory-notes/",[40,44,48,52,56,60,64,68,72,76,80,84,89,108,122,135,152,166],{"label":41,"url":42,"thumb":43,"extension":10},"Loan Policy","/template/loan-policy-D13274","https://templates.business-in-a-box.com/imgs/250px/13274.png",{"label":45,"url":46,"thumb":47,"extension":10},"Demand for Payment on Installment Promissory Note","/template/demand-for-payment-on-installment-promissory-note-D428","https://templates.business-in-a-box.com/imgs/250px/428.png",{"label":49,"url":50,"thumb":51,"extension":10},"Offer of 2% Discount for Speedy Payments","/template/offer-of-2%-discount-for-speedy-payments-D226","https://templates.business-in-a-box.com/imgs/250px/226.png",{"label":53,"url":54,"thumb":55,"extension":10},"Agreement to Extend Debt Payment","/template/agreement-to-extend-debt-payment-D179","https://templates.business-in-a-box.com/imgs/250px/179.png",{"label":57,"url":58,"thumb":59,"extension":10},"Settlement Offer on Disputed Account","/template/settlement-offer-on-disputed-account-D460","https://templates.business-in-a-box.com/imgs/250px/460.png",{"label":61,"url":62,"thumb":63,"extension":10},"Payment Collections Policy","/template/payment-collections-policy-D13744","https://templates.business-in-a-box.com/imgs/250px/13744.png",{"label":65,"url":66,"thumb":67,"extension":10},"Installment Payment Acknowledgment","/template/installment-payment-acknowledgment-D216","https://templates.business-in-a-box.com/imgs/250px/216.png",{"label":69,"url":70,"thumb":71,"extension":10},"Late Payment Letter","/template/late-payment-letter-D448","https://templates.business-in-a-box.com/imgs/250px/448.png",{"label":73,"url":74,"thumb":75,"extension":10},"Payment on Specific Accounts","/template/payment-on-specific-accounts-D455","https://templates.business-in-a-box.com/imgs/250px/455.png",{"label":77,"url":78,"thumb":79,"extension":10},"Apology for Not Crediting Payment","/template/apology-for-not-crediting-payment-D242","https://templates.business-in-a-box.com/imgs/250px/242.png",{"label":81,"url":82,"thumb":83,"extension":10},"Refund of Duplicate Payment","/template/refund-of-duplicate-payment-D274","https://templates.business-in-a-box.com/imgs/250px/274.png",{"label":85,"url":86,"thumb":87,"extension":88},"Loan Calculator with Extra Payments","/template/loan-calculator-with-extra-payments-D420","https://templates.business-in-a-box.com/imgs/250px/420.png","xls",{"description":90,"descriptionCustom":6,"label":91,"pages":92,"size":93,"extension":10,"preview":94,"thumb":95,"svgFrame":96,"seoMetadata":97,"parents":98,"keywords":106,"url":107},"PROMISSORY NOTE This Promissory Note (the \"Note\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, the Borrower promises to pay to the order of Lender, at its principal office located at [ADDRESS], or at such other place that is designated in writing by the holder hereof, the principal sum of [AMOUNT], together with all charges and interest herein provided, payable at the rate and in the manner hereinafter set forth: Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortization of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid, all amounts due under this Note, including principal, interest and other charges shall be due and payable in full on or before the first day of [MONTH], [YEAR] (the \"Maturity Date\"). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month. This Note is and will be secured by a certain first priority security interest in all of the tangible and intangible property of the Borrower, to be recorded in all applicable governmental offices. The parties shall execute a separate security agreement, in form and substance acceptable to the Lender in all respects. Borrower agrees to execute any such security agreements presented by the Lender or other documents required by the Lender in order to perfect its security interest in the above described property. Said Security Agreement and any other instruments and documents executed in connection with or given as security for this Note shall hereinafter be referred to collectively as the \"Loan Documents.\" All of the terms, covenants, Conditions, representations and warranties contained in the Loan Documents are hereby made part of this Note to the same extent and with the same force and effect as if fully set forth herein. If all or any portion of any payment due hereunder is not received by the Lender within [NUMBER] calendar days after the date when such payment is due, Borrower shall pay a late charge equal to [%] of such payment, such late charge to be immediately due and payable without demand by Lender. Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding, (ii) all interest accrued to the date of such prepayment, (iii) all interest calculated through the Maturity Date, and (iv) any late charge or charges then due and owing. If any payment under this Note is not paid in full by the [DAY] of any month during the term hereof or if the entire amount due as represented by this Note is not paid in full on or before the Maturity Date, or should default be made in the performance or observation of any of the terms, covenants, or conditions contained in the Loan Documents, or if any representation or warranty contained in the Loan Documents is breached or is or becomes untrue, this Note shall be in default, and the entire principal amount outstanding hereunder, accrued interest thereon, all late charges, if any, and any and all other charges due hereunder, shall, at Lender's option, immediately become due and payable, without further notice, the giving of such notice being expressly waived by the Borrower","Promissory Note","3",39,"https://templates.business-in-a-box.com/imgs/1000px/promissory-note-D434.png","https://templates.business-in-a-box.com/imgs/250px/434.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#434.xml",{"title":6,"description":6},[99,101,103],{"label":18,"url":100},"finance-accounting",{"label":21,"url":102},"business-loan",{"label":104,"url":105},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":109,"descriptionCustom":6,"label":110,"pages":111,"size":9,"extension":10,"preview":112,"thumb":113,"svgFrame":114,"seoMetadata":115,"parents":117,"keywords":116,"url":121},"LOAN AGREEMENT This Loan Agreement (\"Agreement\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Promise to Pay Within [NUMBER] months from today, Borrower promises to pay to Lender the sum of [AMOUNT], and interest and other charges stated below. Responsibility Although this Agreement may be signed below by more than one person, Borrower understands that both parties are individuals responsible for paying back the full amount. Breakdown of Loan Amount of Loan: Other (Describe): Amount Financed: Finance Charge: Total of Payments: Annual Rate: Repayment Borrower will repay the amount of this note in [NUMBER] equal uninterrupted monthly installments of [AMOUNT] each on the [DAY] of each month starting on the [DATE], and ending on [DATE]. Prepayment Borrower has the right to prepay the whole outstanding amount at any time","Loan Agreement","2","https://templates.business-in-a-box.com/imgs/1000px/loan-agreement-D417.png","https://templates.business-in-a-box.com/imgs/250px/417.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#417.xml",{"title":116,"description":6},"loan agreement",[118,119,120],{"label":18,"url":100},{"label":21,"url":102},{"label":21,"url":102},"/template/loan-agreement-D417",{"description":123,"descriptionCustom":6,"label":124,"pages":8,"size":9,"extension":10,"preview":125,"thumb":126,"svgFrame":127,"seoMetadata":128,"parents":130,"keywords":129,"url":134},"Payment Plan Agreement By this contract, [BORROWER'S NAME] agrees to pay for the services rendered by [NAME OF THE LENDER], hereafter known as \"Lender,\" by the following schedule in exchange for [SPECIFY]. By this agreement, it is agreed that a payment of [SPECIFY AMOUNT] will be surrendered to the Lender every [WEEK/MONTH], for the next [SPECIFY THE NUMBER OF WEEKS/MONTHS] until the total of the payment required, which is [SPECIFY] has been delivered. The first payment will start [SPECIFY DATE] and will end [SPECIFY DATE]. The payment schedule will take the following form:","Payment Plan Agreement","https://templates.business-in-a-box.com/imgs/1000px/payment-plan-agreement-D12663.png","https://templates.business-in-a-box.com/imgs/250px/12663.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12663.xml",{"title":129,"description":6},"payment plan agreement",[131,133],{"label":34,"url":132},"business-legal-agreements",{"label":34,"url":132},"/template/payment-plan-agreement-D12663",{"description":136,"descriptionCustom":6,"label":137,"pages":138,"size":9,"extension":10,"preview":139,"thumb":140,"svgFrame":141,"seoMetadata":142,"parents":144,"keywords":143,"url":151},"SECURED LUMP-SUM PROMISSORY NOTE AGREEMENT This Secured Lump-Sum Promissory Note Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [FIRST PARTY NAME], (the \"Issuer\") a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE] with its head office located at/Individual having an address at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTY NAME], (the \"Holder\") company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE] with its head office located at/Individual having an address at: [YOUR COMPLETE ADDRESS] FOR VALUE RECEIVED, the undersigned Issuer hereby promises to pay to the order of the Holder, the maximum Principal Amount of [PRINCIPAL AMOUNT] together with interest on the unpaid Principal Amount (as defined in this Agreement) outstanding from time to time at the rate (or rates) hereafter specified, and all other sums which may be owing to the Holder by the Issuer hereunder. The terms of the Note are as follows: MATURITY DATE AND PAYMENT TERMS This Note will mature, and be due and payable in full, on [DATE] (the \"Maturity Date\") and shall be paid in the lump sum amount of [LUMP SUM AMOUNT TO BE PAID]. INTEREST From and after the date hereof, all outstanding principal of this Note will bear simple interest at the rate of [PERCENT OF INTEREST] per annum. On the date that is [NUMBER OF DAYS] days after the date of this Note, the Issuer shall pay the then accrued interest on this Note. Upon the occurrence and during the continuance of any Event of Default (as hereinafter defined) under this Note, all outstanding principal of this Note shall bear interest at the rate of [PERCENT OF INTEREST] per annum. All outstanding principal and accrued but unpaid interest on this Note shall be payable on the Maturity Date. SECURITY This Note is Secured by a Security Agreement on the Issuer's Property, described as [PROPERTY DESCRIPTION], hereinafter known as the \"Security,\" which shall transfer to the possession and ownership of the Holder immediately in case of Acceleration. The Security may not be sold or transferred without the Holder's consent until the Maturity Date. If the Issuer breaches this provision, the Holder may declare all sums due under this Note immediately due and payable, unless prohibited by applicable law. The Holder shall have the sole option to accept the Security as full payment for the Principal Amount without further liabilities or obligations. If the market value of the Security does not exceed the Principal Amount, the Issuer shall remain liable for the balance due while accruing interest at the maximum rate allowed by law. PREPAYMENT The Issuer may prepay this Note prior to the Maturity Date, without premium or penalty, upon written notice to the Holder. EVENTS OF DEFAULT The occurrence of any one or more of the following events shall constitute an \"Event of Default\" under this Note: the failure of the Issuer to pay any sum due under this Note when due, whether by demand or otherwise, and such sum remains unpaid for five (5) days after the Due Date; and any other Event of Default described in the Security Agreement that might be signed between the Parties regarding the Property that is pledged as collateral to the loan. RIGHTS AND REMEDIES UPON DEFAULT ","Secured Lumpsum Promissory Note Agreement","4","https://templates.business-in-a-box.com/imgs/1000px/secured-lumpsum-promissory-note-agreement-D13041.png","https://templates.business-in-a-box.com/imgs/250px/13041.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13041.xml",{"title":143,"description":6},"secured lumpsum promissory note agreement",[145,148],{"label":146,"url":147},"Business Plan Kit","business-plan-kit",{"label":149,"url":150},"Business Procedures","business-procedures","/template/secured-lumpsum-promissory-note-agreement-D13041",{"description":153,"descriptionCustom":6,"label":154,"pages":8,"size":9,"extension":10,"preview":155,"thumb":156,"svgFrame":157,"seoMetadata":158,"parents":160,"keywords":159,"url":165},"BUSINESS CREDIT APPLICATION Name/Address Last: First: Middle Initial: Title Company Name: Tax I.D. Number Address: City: State/Province: ZIP/Postal Code: Phone: Company Information Type of Business: In Business Since: Legal Form Under Which Business Operates: State/Province/Country: Corporation Partnership Proprietorship Other If Division/Subsidiary, Name of Parent Company: In Business Since: Name of Company Principal Responsible for Business Transactions: Title: Address: City: State/Province: ZIP: Phone: Name of Company Principal Responsible for Business Transactions: Title: Address: City: State/Province: ZIP: Phone: ","Business Credit Application","https://templates.business-in-a-box.com/imgs/1000px/business-credit-application-D247.png","https://templates.business-in-a-box.com/imgs/250px/247.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#247.xml",{"title":159,"description":6},"business credit application",[161,164],{"label":162,"url":163},"Credit & Collection","credit-collection",{"label":162,"url":163},"/template/business-credit-application-D247",{"description":167,"descriptionCustom":6,"label":168,"pages":8,"size":9,"extension":10,"preview":169,"thumb":170,"svgFrame":171,"seoMetadata":172,"parents":174,"keywords":179,"url":180},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: demand for extension of payment date Dear [Contact name], This will acknowledge our telephone conversation of this date. As was stated in our letter dated [Date], we should be receiving our financing by [Date].","Demand for Extension of Payment Date","https://templates.business-in-a-box.com/imgs/1000px/demand-for-extension-of-payment-date-D444.png","https://templates.business-in-a-box.com/imgs/250px/444.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#444.xml",{"title":173,"description":6},"demand for extension of payment date",[175,176],{"label":18,"url":100},{"label":177,"url":178},"Administration","business-administration","demand for extension payment date","/template/demand-for-extension-of-payment-date-D444",false,{"seo":183,"reviewer":194,"legal_disclaimer":198,"quick_facts":199,"at_a_glance":201,"personas":205,"variants":230,"glossary":252,"clauses":283,"how_to_fill":334,"common_mistakes":370,"faqs":387,"industries":415,"comparisons":432,"diy_vs_lawyer":445,"jurisdictions":458,"related_template_ids_curated":479,"schema":488,"classification":489},{"meta_title":184,"meta_description":185,"primary_keyword":15,"secondary_keywords":186},"Offer To Loan Customers To Move December Payment Template (Free Word)","Free template for offering customers a loan to defer their December payment. Covers loan terms, repayment schedule, interest, and consent. Free Word and PDF download.",[187,188,189,190,191,192,193],"december payment deferral letter template","customer payment deferral agreement","holiday payment loan offer template","defer december payment letter","payment deferment agreement template word","loan offer to move payment template","customer payment relief letter template",{"name":195,"credential":196,"reviewed_date":197},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":200,"legal_review_recommended":198,"signature_required":198},"medium",{"what_it_is":202,"when_you_need_it":203,"whats_inside":204},"An Offer to Loan Customers to Move December Payment is a legally binding agreement in which a lender or service provider extends a short-term loan to a customer so their scheduled December payment can be deferred to a later date — typically January or the end of the loan term. This free Word download gives businesses a structured, customizable template they can edit online and export as PDF to send to customers seeking seasonal payment relief.\n","Use it when customers request a December payment deferral due to holiday cash-flow pressures, and you want to accommodate the request while maintaining a legally documented and interest-bearing arrangement. It is also appropriate when your business proactively offers seasonal relief programs to improve customer retention and reduce default risk.\n","The template covers the loan offer terms, the deferred payment amount and original due date, the new repayment date, applicable interest or fees, customer consent and acknowledgment, representations and warranties, and the governing law clause — all in a single signed document.\n",[206,210,214,218,222,226],{"title":207,"use_case":208,"icon_asset_id":209},"Consumer lenders and finance companies","Offering seasonal payment relief to retail loan customers in December","persona-lender",{"title":211,"use_case":212,"icon_asset_id":213},"Auto dealership finance departments","Deferring a December installment for financed vehicle customers","persona-auto-dealer",{"title":215,"use_case":216,"icon_asset_id":217},"Credit unions and community banks","Running a structured holiday skip-a-payment program for members","persona-credit-union",{"title":219,"use_case":220,"icon_asset_id":221},"Retail finance and buy-now-pay-later providers","Adjusting December payment schedules for high-volume consumer accounts","persona-retailer",{"title":223,"use_case":224,"icon_asset_id":225},"Small business owners extending customer credit","Formalizing a payment deferral arrangement with a key account customer","persona-small-business-owner",{"title":227,"use_case":228,"icon_asset_id":229},"Property management companies","Offering tenants a documented loan to defer December rent or fees","persona-property-manager",[231,234,238,241,245,248],{"situation":232,"recommended_template":7,"slug":233},"Deferring a single monthly installment loan payment","offer-to-loan-customers-to-move-december-payment-D422",{"situation":235,"recommended_template":236,"slug":237},"Suspending multiple consecutive payments for a set period","Loan Forbearance Agreement","secured-lumpsum-promissory-note-agreement-D13041",{"situation":239,"recommended_template":240,"slug":237},"Permanently restructuring a customer's repayment schedule","Loan Modification Agreement",{"situation":242,"recommended_template":243,"slug":244},"Extending new credit to an existing customer","Personal Loan Agreement","loan-agreement-D417",{"situation":246,"recommended_template":124,"slug":247},"Adjusting payment terms for a business-to-business account","payment-plan-agreement-D12663",{"situation":249,"recommended_template":250,"slug":251},"Issuing a formal notice of changed payment due date","Payment Deferral Notice Letter","request-deferral-of-interest-payment-D295",[253,256,259,262,265,268,271,274,277,280],{"term":254,"definition":255},"Payment Deferral","An arrangement in which a scheduled payment is postponed to a future date without triggering a default or late-payment penalty.",{"term":257,"definition":258},"Skip-a-Payment Program","A promotional offering by a lender that allows a qualifying borrower to skip one scheduled payment, with interest continuing to accrue during the skipped period.",{"term":260,"definition":261},"Accrued Interest","Interest that accumulates on the outstanding principal during the deferral period, even though no payment is collected at that time.",{"term":263,"definition":264},"Loan Modification","A permanent change to the original loan terms — such as interest rate, monthly payment, or maturity date — as opposed to a temporary deferral.",{"term":266,"definition":267},"Forbearance","A temporary agreement by a lender not to exercise its right to collect full payment, typically in response to a borrower's documented hardship.",{"term":269,"definition":270},"Maturity Date","The date on which the final scheduled repayment of the full outstanding loan balance is due.",{"term":272,"definition":273},"Deferred Balance","The specific payment amount that is postponed under a deferral agreement, which may be added to the end of the loan term or repaid on a new specified date.",{"term":275,"definition":276},"Consent and Acknowledgment","A signed statement by the borrower confirming they understand and agree to the deferral terms, including any additional interest or fees that will result.",{"term":278,"definition":279},"Governing Law Clause","The contract provision specifying which jurisdiction's laws will be used to interpret and enforce the agreement.",{"term":281,"definition":282},"Consideration","Something of value exchanged between parties to make a contract enforceable — in this context, the lender's willingness to defer and the borrower's agreement to repay with accrued interest.",[284,289,294,299,304,309,314,319,324,329],{"name":285,"plain_english":286,"sample_language":287,"common_mistake":288},"Parties and Loan Account Identification","Identifies the lender and the customer by their full legal names, states the original loan or account number, and confirms this agreement amends only the specified account.","This Agreement is entered into between [LENDER LEGAL NAME] ('Lender') and [CUSTOMER FULL NAME] ('Borrower'), with respect to Loan Account No. [ACCOUNT NUMBER] ('Account'). This Agreement modifies only the payment terms described below and does not alter any other provision of the original Loan Agreement dated [ORIGINAL DATE].","Referencing only the customer's name without the account number, making it impossible to tie the deferral to a specific obligation if the customer holds multiple accounts.",{"name":290,"plain_english":291,"sample_language":292,"common_mistake":293},"December Payment Amount and Original Due Date","States the exact dollar amount of the payment being deferred and the original scheduled due date in December.","The Borrower's scheduled payment of $[PAYMENT AMOUNT] originally due on [DECEMBER DUE DATE] ('Deferred Payment') is hereby deferred under the terms of this Agreement.","Using an approximate or rounded payment amount instead of the exact contractual figure — discrepancies create disputes when the deferred payment is collected.",{"name":295,"plain_english":296,"sample_language":297,"common_mistake":298},"Loan Offer and Deferral Mechanics","Explains the legal mechanism: the lender is extending a short-term loan equal to the deferred payment amount, which suspends the December obligation and creates a new repayment obligation.","Lender hereby offers Borrower a loan in the amount of $[PAYMENT AMOUNT] ('Deferral Loan') for the purpose of satisfying the Deferred Payment. Borrower acknowledges that the Deferred Payment is not forgiven and that the Deferral Loan amount will be added to the outstanding loan balance or repaid as described in Section [X].","Framing the deferral as a forgiveness or waiver rather than a loan, which can eliminate the lender's right to collect the deferred amount.",{"name":300,"plain_english":301,"sample_language":302,"common_mistake":303},"Interest Accrual During Deferral Period","Specifies whether interest continues to accrue on the deferred balance during December and, if so, at what rate and how the accrued interest will be collected.","Interest shall continue to accrue on the Deferred Payment at the rate of [INTEREST RATE]% per annum from [DECEMBER DUE DATE] through [REPAYMENT DATE]. Accrued interest of approximately $[ESTIMATED AMOUNT] will be added to the Borrower's [final payment / next payment / outstanding balance].","Omitting the accrual period or rate, leaving the customer with a valid argument that no additional interest was agreed to during the deferral period.",{"name":305,"plain_english":306,"sample_language":307,"common_mistake":308},"New Repayment Date and Method","Sets the specific date on which the deferred payment and any accrued interest will be collected, and how — added to the final payment, spread across remaining payments, or paid as a lump sum.","The Deferred Payment and all accrued interest shall be due and payable on [REPAYMENT DATE] ('New Due Date'). Repayment shall be made by [LUMP SUM PAYMENT / ADDITION TO FINAL INSTALLMENT / EQUAL SPREAD ACROSS REMAINING PAYMENTS].","Setting the new repayment date without confirming whether it extends the loan maturity — an extended maturity may require additional regulatory disclosures under consumer lending laws.",{"name":310,"plain_english":311,"sample_language":312,"common_mistake":313},"Effect on Remaining Loan Schedule","Clarifies whether the deferral shifts all subsequent payments by one month or leaves the remaining schedule unchanged except for the new repayment obligation.","Except as expressly modified herein, all remaining scheduled payments shall continue as set forth in the original Loan Agreement. The maturity date of the original Loan Agreement [shall / shall not] be extended by [NUMBER] days as a result of this deferral.","Leaving the effect on the remaining schedule ambiguous — customers often assume all future payments shift, while lenders intend only the December payment to move.",{"name":315,"plain_english":316,"sample_language":317,"common_mistake":318},"Borrower Representations and Eligibility","Requires the customer to confirm they are current on all other obligations, that no default exists, and that they have authority to enter the agreement.","Borrower represents and warrants that: (a) no default or event of default exists under the original Loan Agreement as of the date of this Agreement; (b) Borrower has the legal authority to enter into this Agreement; and (c) all information provided to Lender in connection with this offer is accurate and complete.","Omitting the 'no existing default' representation, which can trap the lender into a deferral arrangement with a borrower already in breach of the underlying loan.",{"name":320,"plain_english":321,"sample_language":322,"common_mistake":323},"Fees and Costs","Discloses any processing fee charged for the deferral and confirms how it will be collected — immediately, added to the balance, or deducted from the next payment.","A deferral processing fee of $[FEE AMOUNT] [is / is not] applicable to this Agreement. If applicable, the fee shall be [collected immediately / added to the Deferred Payment balance / deducted from the next scheduled payment] on [DATE].","Charging a fee without disclosing it in the agreement — undisclosed fees on consumer loan products are subject to TILA, consumer protection, and provincial disclosure requirements.",{"name":325,"plain_english":326,"sample_language":327,"common_mistake":328},"Customer Consent and Acknowledgment","Documents the customer's informed consent: they understand the deferral is a loan, that interest continues to accrue, that the deferred amount must be repaid, and that all other loan terms remain in force.","By signing below, Borrower acknowledges that: (i) this Agreement constitutes a binding amendment to the original Loan Agreement; (ii) interest will accrue on the Deferred Payment as stated above; (iii) the Deferred Payment is not waived or forgiven; and (iv) all other terms of the original Loan Agreement remain in full force and effect.","Using a checkbox or email reply as the sole evidence of consent for a consumer loan amendment — most jurisdictions require a wet or electronic signature with clear disclosure language.",{"name":330,"plain_english":331,"sample_language":332,"common_mistake":333},"Governing Law and Entire Agreement","States which jurisdiction's law governs the agreement and confirms this document, together with the original loan agreement, constitutes the entire understanding between the parties.","This Agreement is governed by the laws of [STATE / PROVINCE / COUNTRY] without regard to its conflict-of-laws provisions. This Agreement, together with the original Loan Agreement, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior representations and understandings.","Choosing a governing law with no connection to where the borrower resides or the loan was originated — consumer protection statutes in the borrower's home state often apply regardless of the governing-law clause.",[335,340,345,350,355,360,365],{"step":336,"title":337,"description":338,"tip":339},1,"Enter the lender and borrower legal names","Use the lender's full registered entity name — not a trade name or brand — and the customer's legal name exactly as it appears on the original loan agreement. Confirm both against your loan origination records.","If the loan is held by a servicing entity different from the originating lender, use the servicer's name and note the originator's name parenthetically to avoid customer confusion.",{"step":341,"title":342,"description":343,"tip":344},2,"Reference the original loan account number","Enter the account or loan number from your origination system. If the customer has multiple accounts, confirm you are referencing the correct one before issuing the offer.","Include both the account number and the original loan date — together they eliminate any ambiguity about which obligation is being deferred.",{"step":346,"title":347,"description":348,"tip":349},3,"State the exact deferred payment amount and original December due date","Pull the scheduled payment amount directly from the amortization schedule — do not round. Enter the specific calendar date in December the payment was originally due.","If the payment includes both principal and interest components, confirm whether the deferral applies to the full payment or only the principal portion.",{"step":351,"title":352,"description":353,"tip":354},4,"Set the interest accrual rate and estimated accrued amount","Confirm the original contractual interest rate applies during the deferral period, or specify a different rate if your program uses one. Calculate the estimated accrued interest for the deferral period and include it as a disclosure.","Many consumer protection regulations require a specific dollar estimate of additional interest cost — not just the rate — to be disclosed in the agreement.",{"step":356,"title":357,"description":358,"tip":359},5,"Define the new repayment date and method","Choose one of three repayment structures: lump sum on a specific date, addition to the final loan installment, or equal spread across remaining payments. Document the choice explicitly and include a revised payment schedule if the monthly amount changes.","Adding the deferred amount to the final payment is the simplest structure and least likely to require a full loan re-amortization — but confirm it does not inadvertently extend the maturity date past a regulatory limit.",{"step":361,"title":362,"description":363,"tip":364},6,"Disclose any processing fee","If your program charges a deferral fee, enter the exact dollar amount and collection method. If no fee applies, state that expressly so the customer has written confirmation.","Under TILA and equivalent consumer credit statutes, fees associated with a loan modification or deferral must be disclosed before the customer signs — verbal disclosure alone is insufficient.",{"step":366,"title":367,"description":368,"tip":369},7,"Send for signature before the December due date","Issue the offer with enough lead time for the customer to review, sign, and return it before the payment would otherwise be due. A fully executed agreement protects both parties if the payment is missed.","Use a documented electronic signature method — DocuSign, Adobe Sign, or Business in a Box eSign — that time-stamps acceptance and stores the executed copy automatically.",[371,375,379,383],{"mistake":372,"why_it_matters":373,"fix":374},"Framing the deferral as a waiver or forgiveness","Language that implies the December payment is forgiven rather than deferred can extinguish the lender's right to collect it, creating an unintended write-off and a tax event.","Use explicit loan-offer language confirming the deferred amount remains outstanding and will be repaid with accrued interest on the new due date.",{"mistake":376,"why_it_matters":377,"fix":378},"Omitting the interest accrual disclosure","Consumer lending statutes in most US states and Canadian provinces require clear disclosure of any additional interest cost before the borrower signs. Omitting it exposes the lender to regulatory fines and voids the fee entitlement.","Include both the accrual rate and an estimated dollar amount of interest for the deferral period in the agreement body, not just in a separate disclosure form.",{"mistake":380,"why_it_matters":381,"fix":382},"Not executing the agreement before the payment due date","A deferral agreement signed after the due date has passed may be treated as a cure of an existing default rather than a proactive amendment — with different legal and credit-reporting consequences.","Issue the offer at least 7–10 business days before the December due date and follow up to secure a signed copy before the date passes.",{"mistake":384,"why_it_matters":385,"fix":386},"Leaving the effect on the remaining loan schedule ambiguous","Customers commonly assume all future payments shift by one month; if they do not, the customer may miss the January payment expecting it was moved, triggering an actual default.","Add an explicit sentence confirming whether remaining payments shift, and attach or reference an updated payment schedule so the customer has a clear record of all future due dates.",[388,391,394,397,400,403,406,409,412],{"question":389,"answer":390},"What is an offer to loan customers to move a December payment?","It is a formal written agreement in which a lender or creditor extends a short-term loan to a customer equal to their scheduled December payment, effectively deferring that payment to a later date. The deferral is structured as a loan — not a forgiveness — so the deferred amount remains outstanding and accrues interest until repaid. The document records the offer terms, the customer's consent, and the new repayment obligation in a legally binding format.\n",{"question":392,"answer":393},"Is a signed agreement required to defer a customer's December payment?","Yes, for any lending arrangement regulated under consumer credit law — which includes most installment loans, auto loans, and personal credit accounts — a signed written agreement is required to amend the payment schedule. An email exchange or phone call is generally not sufficient. A signed deferral agreement protects the lender's right to collect the deferred amount and gives the customer clear written confirmation of the new terms.\n",{"question":395,"answer":396},"Does interest continue to accrue during the deferral period?","In most cases, yes. Unless the agreement expressly states that interest is waived for the deferral period, interest continues to accrue on the outstanding balance — including the deferred payment amount — at the original contract rate. Consumer protection laws in most jurisdictions require the lender to disclose the estimated additional interest cost before the borrower signs the deferral agreement.\n",{"question":398,"answer":399},"Does deferring a December payment extend the loan's maturity date?","It depends on how the repayment is structured. If the deferred amount is added to the final scheduled payment, the maturity date typically stays the same. If the deferral is handled by pushing all remaining payments back by one month, the maturity date extends by approximately one month. The agreement should state which structure applies and, in some jurisdictions, an extended maturity may trigger additional disclosure obligations.\n",{"question":401,"answer":402},"Can a lender charge a fee for offering a payment deferral?","Yes, a processing fee is permissible in most jurisdictions, but it must be disclosed in the agreement before the customer signs. Under the US Truth in Lending Act and equivalent statutes in Canada and the UK, undisclosed fees on consumer credit products are unenforceable and can expose the lender to regulatory sanctions. If your program includes a fee, state the exact dollar amount and collection method in the agreement.\n",{"question":404,"answer":405},"How does a payment deferral affect the customer's credit report?","If the deferral agreement is executed before the payment due date, the account should not be reported as delinquent — the lender is accepting modified terms. However, credit reporting treatment varies by lender policy and reporting guidelines. Some lenders report skip-a-payment programs with a special comment code; others do not report them at all. The agreement itself should not promise a specific credit reporting outcome, as that is governed by FCRA and CRA reporting obligations, not the deferral contract.\n",{"question":407,"answer":408},"What happens if the customer does not repay the deferred amount on the new due date?","Failure to repay the deferred amount on the new due date constitutes a default under the deferral agreement and typically also triggers a default under the original loan agreement. The lender's remedies — acceleration, collection action, or repossession — are governed by the original loan agreement and applicable law. The deferral agreement should cross-reference the original loan agreement's default and remedies clauses so the enforcement rights are clear.\n",{"question":410,"answer":411},"Who should sign the offer to loan customers to move December payment?","Both the lender (or an authorized representative) and the customer must sign the agreement before the December due date. For consumer loans, electronic signatures are generally valid under the ESIGN Act in the US, the Electronic Commerce Act in Canada, and the Electronic Communications Act in the UK, provided the customer has consented to electronic execution. Retain a copy of the fully executed agreement in the customer's loan file.\n",{"question":413,"answer":414},"Is this document suitable for business-to-business payment deferrals?","The template can be adapted for B2B arrangements, but the core design is oriented toward consumer lending with regulatory disclosure requirements. For B2B accounts, you may be able to simplify the disclosure language and remove certain consumer-protection provisions, but you should still include the core terms — deferred amount, interest accrual, new due date, and mutual signatures — to create an enforceable amendment to the underlying credit arrangement.\n",[416,420,424,428],{"industry":417,"icon_asset_id":418,"specifics":419},"Consumer Lending and Finance","industry-fintech","Skip-a-payment programs are a standard seasonal retention tool; TILA disclosure requirements, state usury laws, and credit reporting treatment all apply to the deferral agreement.",{"industry":421,"icon_asset_id":422,"specifics":423},"Automotive and Dealer Finance","industry-automotive","Auto loan deferral programs offered at dealerships must comply with both the retail installment sales contract and state motor vehicle financing statutes, which often impose specific notice and disclosure requirements.",{"industry":425,"icon_asset_id":426,"specifics":427},"Banking and Credit Unions","industry-banking","Credit unions running holiday skip-a-payment promotions face NCUA guidance on loan modification documentation and must track deferrals carefully to avoid adverse classification of performing loans.",{"industry":429,"icon_asset_id":430,"specifics":431},"Property Management","industry-real-estate","Landlords offering tenants a formal loan to defer December rent should document the arrangement carefully, as verbal deferrals can be interpreted as rent waivers in jurisdictions with strong tenant-protection laws.",[433,436,439,442],{"vs":236,"vs_template_id":434,"summary":435},"D{FORBEARANCE_AGREEMENT_ID}","A forbearance agreement suspends or reduces payments for a defined hardship period — often multiple months — typically in response to documented financial difficulty. An offer to move a December payment is a narrower, proactive deferral of a single payment for seasonal cash-flow reasons. Forbearance typically requires evidence of hardship; a December deferral offer does not.",{"vs":240,"vs_template_id":437,"summary":438},"D{LOAN_MODIFICATION_ID}","A loan modification permanently changes one or more terms of the original loan — interest rate, monthly payment, or maturity date. A December payment deferral is a temporary, single-payment adjustment that leaves all other loan terms unchanged. Modifications require more extensive underwriting and disclosure; deferrals are simpler and faster to execute.",{"vs":124,"vs_template_id":440,"summary":441},"D{PAYMENT_PLAN_ID}","A payment plan agreement restructures an overdue or disputed balance into a series of future installments, typically used after a default has already occurred. A December deferral offer is a proactive amendment made before any default — it preserves the performing status of the account and is typically only available to customers who are current.",{"vs":91,"vs_template_id":443,"summary":444},"D{PROMISSORY_NOTE_ID}","A promissory note creates a new, standalone debt obligation with its own repayment schedule and terms. A December deferral agreement is an amendment to an existing loan agreement, not a new note. The deferral relies on the original loan's terms for default, remedies, and governing law rather than establishing an independent obligation.",{"use_template":446,"template_plus_review":450,"custom_drafted":454},{"best_for":447,"cost":448,"time":449},"Consumer lenders, credit unions, and small businesses running standard seasonal deferral programs for performing accounts","Free","15–20 minutes per agreement",{"best_for":451,"cost":452,"time":453},"Lenders offering deferrals across multiple states or provinces, or where the deferred amount exceeds $5,000","$300–$600 for a compliance attorney review","1–3 days",{"best_for":455,"cost":456,"time":457},"Banks and regulated finance companies with high-volume deferral programs, multi-jurisdiction portfolios, or complex fee and interest structures requiring custom disclosure forms","$1,500–$4,000+","1–3 weeks",[459,464,469,474],{"code":460,"name":461,"flag_asset_id":462,"note":463},"us","United States","flag-us","The Truth in Lending Act (TILA) and Regulation Z require clear disclosure of any additional finance charges — including accrued interest during the deferral period — before the borrower signs a consumer credit amendment. State-level consumer lending statutes may impose additional notice, fee-cap, and disclosure requirements. California, New York, and Texas each have specific rules on loan modification disclosures that apply even to single-payment deferrals.",{"code":465,"name":466,"flag_asset_id":467,"note":468},"ca","Canada","flag-ca","Federal and provincial consumer protection legislation — including the Cost of Credit Disclosure regulations under the Bank Act and provincial Consumer Protection Acts — requires lenders to disclose the cost of borrowing, including any additional interest resulting from a deferral, before the customer consents. Quebec's Consumer Protection Act imposes French-language requirements for consumer credit documents issued to Quebec residents.",{"code":470,"name":471,"flag_asset_id":472,"note":473},"uk","United Kingdom","flag-uk","Consumer credit agreements regulated under the Consumer Credit Act 1974 require a formal variation notice for any amendment to payment terms, including a deferral. The FCA's Consumer Duty rules require lenders to act in the customer's best interests and ensure the deferral is genuinely appropriate for the customer's circumstances. Any additional interest or fees must be disclosed in a clear and prominent manner before the customer signs.",{"code":475,"name":476,"flag_asset_id":477,"note":478},"eu","European Union","flag-eu","The Consumer Credit Directive (2008/48/EC, updated by Directive 2023/2225/EU) governs amendments to consumer credit agreements across EU member states. Lenders must provide pre-contractual information when materially changing credit terms, including payment deferrals. GDPR applies to the processing of borrower data in connection with the deferral offer. Individual member states — particularly France, Germany, and the Netherlands — impose additional disclosure and consent requirements beyond the Directive's minimum standards.",[480,244,244,247,237,481,482,483,484,485,486,487],"promissory-note-D434","business-credit-application-D247","demand-for-extension-of-payment-date-D444","collection-letter-to-eliminate-disputes-D190","letter-of-intent_acquisition-of-business-D5197","notice-of-default-in-payment-D391","amendment-agreement-D13872","notice-of-debt-acknowledgment-D390",{"emit_how_to":198,"emit_defined_term":198},{"primary_folder":132,"secondary_folder":490,"document_type":491,"industry":492,"business_stage":493,"tags":494,"confidence":500},"loans-and-promissory-notes","agreement","general","all-stages",[495,496,497,498,499],"loan","payment-deferral","customer-financing","seasonal-relief","short-term-loan",0.92,"\u003Ch2>What is an Offer to Loan Customers to Move December Payment?\u003C/h2>\n\u003Cp>An \u003Cstrong>Offer to Loan Customers to Move December Payment\u003C/strong> is a legally binding agreement in which a lender or credit provider extends a short-term loan to a customer specifically to fund the deferral of their scheduled December payment. Rather than forgiving or waiving the payment, the agreement structures the deferral as a formal loan — the deferred amount remains outstanding, interest continues to accrue, and the full balance must be repaid on a new agreed date, typically the following month or at the end of the original loan term. The document records the offer terms, the customer's informed consent, the interest and fee disclosures required under consumer lending regulations, and the effect on the remaining repayment schedule, creating a clean amendment to the underlying loan agreement.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Offering a December payment deferral without a signed written agreement creates significant legal and financial exposure on both sides. Without documentation, a verbal or informal deferral can be interpreted as a waiver — permanently extinguishing the lender's right to collect the deferred amount and triggering an unintended write-off. For regulated consumer lenders, an undocumented deferral that results in additional interest charges violates disclosure requirements under the Truth in Lending Act, Canada's Cost of Credit Disclosure rules, and the UK Consumer Credit Act, exposing the business to regulatory fines and borrower disputes. From the customer's perspective, the absence of a written agreement leaves them uncertain about whether the payment was truly deferred, what interest will accrue, and when the amount will be collected — confusion that drives missed payments and damaged relationships. A properly executed deferral agreement protects the lender's receivable, keeps the account performing and correctly classified, satisfies regulatory disclosure obligations, and gives the customer a clear, written record of the new terms — all in a document that takes fewer than 20 minutes to complete.\u003C/p>\n",1781186015805]