This form is a sample letter from a law firm to opposing counsel confirming the payment schedule of defendant.
Florida Sample Letter for Payment Arrangements
Category:
State:
Multi-State
Control #:
US-0070LTR
Format:
Word;
Rich Text
Instant download
Description
How to fill out Sample Letter For Payment Arrangements?
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FAQ
Including a clear description of the payment plan Clearly state the date the payment plan agreement is being created. List the full names of the parties involved in the agreement. Provide an itemized list of the payments that need to be made, including the payment amount and due date for each payment.
A payment arrangement is an agreement with a customer to payoff severely overdue debt in installments. Bills sent to customers with payment arrangements contain charges for both their current services and their payment arrangement installment amount.
Pay plans differ from payment arrangements in that pay plans have user-defined scheduled payment dates, which are independent from the customer's billing dates. In other words, payment arrangements appear on the customer's bills, pay plan scheduled payments do not.
The letter of agreement typically includes details like the contact information of the involved parties, the agreed-upon payments and the timeline. The purpose of the agreement letter is to protect your rights and clearly state everyone's responsibilities.
As I am undergoing some financial crises at present, I may not be able to continue the current payment plan. On reviewing my financial condition and my monthly budget, I found it absolutely necessary to request an alternative payment plan from each of my creditors until my financial state improves.
In place of my regular monthly payment of $__________due on the__________________________. I am requesting that you accept payments of $______________paid on the__________. I assure you that I will add no further debt until my financial situation improves. I will begin making normal payments again as soon as possible.
Let's look at a quick example to illustrate the nature of a payment agreement. Person A (the debtor) borrows $5,000 from person B (the creditor). Both parties agree that person A must pay person B $1,000 a month over five months to repay the debt.
A payment arrangement, also known as a pay plan, allows you to break up your existing balance into smaller payments made monthly in addition to your current charges. There are no fees associated with a pay plan and no interest charged.
