This form is a sample letter from a law firm to opposing counsel confirming the payment schedule of defendant.
Subject: Request for Payment Arrangements — [Your Name and Account Number] Dear [Recipient's Name], I hope this letter finds you well. I am writing to discuss the possibility of establishing a payment arrangement for my outstanding debt with [Company/Organization Name]. As a responsible individual, I acknowledge my financial obligations and intend to fulfill them promptly. Currently, I find myself facing some unforeseen financial difficulties, which have temporarily affected my ability to make the regular payments. However, I am determined to rectify the situation and believe that a mutually beneficial payment plan can be agreed upon, enabling me to settle the debt in a practical and manageable manner. I have carefully reviewed my financial situation and have formulated a proposed payment arrangement that I believe would be feasible for both parties involved. I would greatly appreciate your consideration of the following terms: 1. Payment Plan Type: [Choose the most applicable payment arrangement type from the options below:] a) Lump Sum Payment Plan: I can provide a lump sum payment of [Amount] by [Date]. b) Installment Payment Plan: I propose making regular monthly installments of [Amount] starting from [Date] until the entire debt is paid off. c) Reduced Payment Plan: Considering my current financial limitations, I request a temporary reduction in my monthly payment. I suggest paying [Amount] per month for a set duration of [Months/Years] until my financial situation improves. 2. Preferred Payment Method: [Specify your preferred payment method such as check, online transfer, or automatic debit]. 3. Application of Payments: I request that payments be applied firstly to any outstanding fees, interest, or other charges, with the remaining amount applied to reduce the principal balance. 4. Documentation and Confirmation: It is essential that all payment arrangements be documented and agreed upon by both parties. I kindly request written confirmation of our agreed-upon payment arrangement and any changes to the terms of our original agreement. I understand the importance of promptness and consistency regarding these payment arrangements. Therefore, I assure you that I will abide by the agreed-upon terms and make timely payments as stated. Moreover, I confirm that I will promptly inform you of any changes in my financial circumstances that might affect the agreed-upon payment arrangement. I kindly request your understanding and compassion in assisting me during this challenging period. I am confident that by working together, we can find a practical solution that allows for the timely resolution of my debt while maintaining my commitment to your organization. Please find enclosed supporting documents that substantiate my financial situation and serve as evidence of my honest intentions. I believe transparency will facilitate a fair assessment of my proposal. Thank you for your attention to this matter, and I eagerly await your positive response. Should you require any additional information or wish to discuss the proposed payment arrangement further, please feel free to contact me at your convenience. Warm regards, [Your Name] [Your Address] [City, State, ZIP] [Phone Number] [Email Address] [Account Number]
