This form is a sample letter from a law firm to opposing counsel confirming the payment schedule of defendant.
New York Sample Letter for Payment Arrangements
Category:
State:
Multi-State
Control #:
US-0070LTR
Format:
Word;
Rich Text
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FAQ
Payment Arrangement Agreement Letter Sample The outstanding balance on your account is $471.54. No further interest charges or late charges will be added to your account as long as you make a monthly payment of $40.00 due the 15th of each month.
The main body should be informative about the reason behind writing the letter and the pending payment to be made. In conclusion, thank the recipient and then end the main body content. Inclusion of any informal information in the letter should be avoided. Keep the tone of the letter polite and respectful.
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.
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.
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.
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.
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.
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.
