This form is a sample letter from a law firm to opposing counsel confirming the payment schedule of defendant.
Dear [Creditor's Name], I hope this letter finds you well. I am writing to discuss a payment arrangement for my outstanding debt that I currently owe to your esteemed company. Due to unforeseen circumstances, I am unable to make the full payment at this time, but I am committed to settling my debt responsibly. As a resident of South Carolina, I believe it is of utmost importance to fulfill my financial obligations, and I wish to establish a mutually beneficial payment plan that works for both parties. I understand the significance of meeting my debt obligations and intend to resolve this matter without any further delay. After conducting thorough research on South Carolina's legal framework regarding debt payment arrangements, I have identified several options that may suit my current circumstances: 1. Partial Payment Plan: I propose paying a partial amount of the total debt each month until the debt is fully settled. This approach allows me to gradually reduce the outstanding balance while showcasing my commitment to resolving the debt. 2. Extended Payment Schedule: To accommodate my financial capabilities, I request an extension of the payment period. This will allow me to make smaller payments over a longer duration, making it easier to meet my obligations. 3. Lump Sum Settlement: If you are open to negotiation, I may be able to offer a lump sum settlement amount that is less than the full debt owed. This option could expedite the resolution process and provide immediate payment satisfaction for both parties. I understand that the decision of whether to accept any of these arrangements lies with your company. Nevertheless, I hope you recognize my sincerity in resolving my debt and agree that one of these options will be fair and reasonable for both parties involved. In order to move forward with this payment arrangement, I kindly request you to review my proposal and, if acceptable, provide me with a written agreement outlining the agreed-upon terms. This will ensure transparency and avoid any potential misunderstandings in the future. I assure you that once an arrangement is reached, I will adhere strictly to the agreed-upon terms and make timely payments as per the specified schedule. I strongly urge you to consider my proposal, as it will help me regain control of my financial situation while ensuring your organization receives the outstanding payment in due course. Thank you for your understanding and cooperation in this matter. I eagerly await your response and the opportunity to resolve my outstanding debt. Please feel free to contact me at [Your Contact Information] if you require any further information or wish to discuss any aspect of this payment arrangement. Sincerely, [Your Name]
