[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Position] [Company/Organization] [Address] [City, State, ZIP Code] Subject: Request for Payment Plan concerning Default — Account Number: [Account Number] Dear [Recipient's Name], I am writing to discuss a matter of significant importance regarding my outstanding debt with [Company/Organization]. I regret to inform you that due to unforeseen financial difficulties, I have fallen behind on my payment obligations. I am fully aware of my responsibility to fulfill the terms of my agreement, and I am committed to resolving this matter promptly and in good faith. Furthermore, I have thoroughly reviewed my financial situation and have come to realize that I am currently unable to pay the full outstanding amount in one lump sum. However, I wish to work towards a solution that would allow me to fulfill my obligation while minimizing the financial strain on both parties. With this in mind, I kindly request your consideration in negotiating a payment plan to settle the outstanding balance. Considering the circumstances, I propose the following terms for the payment plan: 1. Monthly Installment Amount: [Specify the amount you can comfortably pay each month] 2. Start Date of Repayment: [Indicate the preferred date for the repayment plan to commence] 3. Duration of the Plan: [Specify the desired length of the payment plan] 4. Method of Payment: [Detail the preferred payment method, such as bank transfer, check, or online payment] While I understand that the default has implications, I assure you of my sincere intention to fulfill my financial obligations. I believe that this proposed payment plan is a fair and realistic approach that will enable me to reinstate my account while ensuring your company receives the outstanding amount in a timely manner. To demonstrate my commitment and seriousness towards resolving this matter, I am enclosing a partial payment alongside this letter as a gesture of goodwill and a show of good faith. This amount serves as proof of my intent to meet my obligations and as a sign of my willingness to work together to resolve this issue. I understand that this proposal may need further discussion and negotiation. If you have any counteroffer or alternative suggestions regarding the payment plan, kindly contact me at your earliest convenience. I am open to finding a mutually beneficial arrangement that takes into account both parties' interests. I sincerely hope that we can reach an agreement that suits both our needs and enables us to move forward amicably. Furthermore, I genuinely value the services provided by [Company/Organization] and wish to maintain a positive relationship. Furthermore, I am committed to rectifying this situation and rebuilding trust and confidence in our arrangement. Thank you for your prompt attention to this matter, and I look forward to hearing from you soon. Please consider this my earnest effort in resolving this default promptly and efficiently. You're understanding and cooperation are greatly appreciated. Yours sincerely, [Your Name]
Nebraska Sample Letter for Request for Payment Plan concerning Default
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How to fill out Nebraska Sample Letter For Request For Payment Plan Concerning Default?
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You can view details of your current payment plan (type of agreement, due dates, and amount you need to pay) by logging into the Online Payment Agreement tool using the Apply/Revise button below.
You may request a payment plan (including an installment agreement) using the OPA application. Even if the IRS hasn't yet issued you a bill, you may establish a pre-assessed agreement by entering the balance you'll owe from your tax return. OPA is quick and has a lower user fee compared to other application methods.
The IRS will provide up to 120 days to taxpayers to pay their full tax balance. Fees or cost: There's no fee to request the extension. There is a penalty of 0.5% per month on the unpaid balance. Action required: Complete an online payment agreement, call the IRS at (800) 829-1040 or get an expert to handle it for you.
Fees for IRS installment plans If you can pay off your balance within 180 days, it won't cost you anything to set up an installment plan. If you cannot pay off your balance within 180 days, setting up a direct debit payment plan online will cost $31, or $107 if set up by phone, mail, or in-person using Form 9465.
Generally, an installment agreement request is pending until it is reviewed; and is established, or the request is withdrawn by you or rejected by the IRS. If the request for an installment agreement is rejected, the running of the collection period is suspended for an additional 30 days.
To be eligible for the Fresh Start Program, you must meet one of the following criteria: You're self-employed and had a drop in income of at least 25% You're single and have an income of less than $100,000. You're married and have an income of less than $200,000. Your tax debt balance is less than $50,000.
If you are an individual, you may qualify to apply online if: Long-term payment plan (installment agreement): You owe $50,000 or less in combined tax, penalties and interest, and filed all required returns. Short-term payment plan: You owe less than $100,000 in combined tax, penalties and interest.
You can use the Online Payment Agreement tool to make the following changes: Change your monthly payment amount. Change your monthly payment due date. Convert an existing agreement to a Direct Debit agreement. Change the bank routing and account number on a Direct Debit agreement. Reinstate after default.
