Installment Payment Agreement Letter Sample

Are you looking for an Installment Payment Agreement Letter Sample to help you formalize a payment plan with a creditor or debtor? Look no further! Below, you will find examples of Installment Payment Agreement Letter Samples that you can use and customize to suit your specific needs.

Why Use an Installment Payment Agreement Letter Sample?

Provides a formal written record of the agreed-upon payment plan
Helps to avoid misunderstandings or disputes in the future
Sets clear expectations for both parties involved
Ensures compliance with legal and financial obligations

Example of Installment Payment Agreement Letter Sample:

Dear [Recipient’s Name],

I am writing to formally propose an installment payment plan for the outstanding balance of $500 that I owe to your company. Due to unforeseen financial circumstances, I am unable to make the full payment at this time, but I am committed to settling my debt in a timely manner.

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As per our discussion, I propose to make monthly payments of $100 starting from the 1st of next month until the total amount is paid off. I believe this arrangement will allow me to fulfill my financial obligations without causing any further inconvenience to either party.

I kindly request your approval of this proposed installment plan. Please let me know if you require any additional information or documentation from my end to proceed with this arrangement.

Thank you for your understanding and cooperation in this matter. I look forward to resolving this issue amicably and appreciate your flexibility in accommodating my payment schedule.

Sincerely,

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John Doe