Vermont Sample Letter for Request for Payment Plan concerning Default

• Category: Letters - Legal - Bankruptcy
• State: Multi-State
• Control #: US-0799LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form.

Subject: Request for Payment Plan to Resolve Defaulted Account Dear [Creditor's Name], I am writing to discuss the outstanding balance on my account [Account Number] and to request a structured payment plan that will allow me to fulfill my financial obligations without causing further inconvenience to either party. Living in beautiful Vermont, I have always pursued a responsible approach to my finances. However, due to unexpected circumstances [Briefly mention the reason for default], I have fallen behind on my payments, and I sincerely apologize for any inconvenience this has caused. I am aware of the importance of resolving this matter promptly, and I am committed to finding a mutually beneficial solution. Therefore, I am proposing a payment plan that will allow me to gradually repay the amount owed. By doing so, I aim to restore my credit reputation while also alleviating the financial burden on both sides. The suggested payment plan is as follows: 1. Total outstanding balance: $[Amount] 2. Monthly payment: $[Amount] 3. Duration of the payment plan: [Number of Months] 4. Preferred payment method: [Specify preferred method, such as check, bank transfer, etc.] 5. Commencement date of the payment plan: [Date] I understand that adhering to this payment schedule is of utmost importance, and I assure you that I am committed to making the agreed-upon payments promptly every month. I kindly request that you consider accepting my proposed payment plan for resolution of this defaulted account. Furthermore, I believe that working cooperatively toward a resolution is in the best interest of both parties involved. Therefore, I kindly request you to consider waiving any late fees, penalties, or accrued interest on the outstanding balance. By doing so, we can ensure that the payment plan remains manageable and achievable for me. In support of my commitment, I am enclosing copies of my recent financial records, including income statements and expense documentation. These supporting documents substantiate my ability to make the proposed monthly payments without undue strain. As a responsible consumer, I value the importance of maintaining a positive credit history, and I genuinely believe that this payment plan will allow me to rectify the situation honorably. Please note that I intend to diligently follow this payment plan and strive for full resolution of the defaulted account accordingly. I kindly request you to consider my proposal carefully and respond in a timely manner. Should you require any further information or documentation from my end, please do not hesitate to contact me at [Your Contact Details]. Thank you for your attention to this matter, and I look forward to your favorable response. Your cooperation and understanding are greatly appreciated. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Your Email Address] [Your Phone Number] Keywords: Vermont, payment plan, default, request, account, outstanding balance, financial obligations, structured payment plan, inconvenience, responsible approach, unexpected circumstances, credit reputation, financial burden, mutually beneficial solution, monthly payment, duration, payment method, commencement date, late fees, penalties, accrued interest, supporting documents, credit history, resolution