Dear [Debtor's Name], I hope this letter finds you well. I am writing to discuss the outstanding balance on your account and explore the possibility of establishing a payment plan to address your default on payments. As you are aware, our records indicate that you have an outstanding balance of [Amount] on your [Account/Invoice Number]. This balance has remained unpaid for [Number of Days/Months], and it is important that we address this issue promptly to avoid any further complications. Understanding that circumstances may arise causing temporary financial difficulties, we are willing to work with you to establish a mutually beneficial payment plan that helps you fulfill your financial obligations while considering your current situation. We believe that finding an alternative payment arrangement would be the most appropriate path to resolve this matter. In order to facilitate the payment plan, we propose the following terms: 1. Total Amount Due: [Specify the total outstanding balance] 2. Monthly Payment: [Specify the proposed monthly amount you are able to pay] 3. Start Date: [Specify the date when the payment plan will commence] 4. Duration: [Specify the proposed duration e.g., six months] 5. Method of Payment: [Specify the acceptable methods of payment, such as online transfer, check, or credit card] 6. Late Payment Consequences: [Specify any repercussions for missed or late payments, such as additional interest, penalties, or legal action] Please note that if you agree to this payment arrangement, it is essential to adhere to the agreed terms strictly. Failure to meet the agreed-upon payment plan may result in further collection activities, which could include reporting the default to credit bureaus or seeking legal action to recover the outstanding debt. To proceed with this payment plan request, we kindly ask you to review the terms carefully and sign the attached copy of this letter as an acknowledgment of your commitment to comply with the proposed arrangement. Upon receipt of the signed agreement, we will promptly make necessary arrangements to set up the payment plan and provide you with further instructions to facilitate payments. Should you have any queries or require any further clarification regarding this proposal, please contact our customer service department at [Contact Information]. We are here to assist you and find an amicable solution to resolve this default situation. We understand that financial setbacks can happen to anyone, but cooperating and addressing the issue promptly will demonstrate your dedication to fulfilling your financial responsibilities. Furthermore, we sincerely believe that by working together, we can establish a repayment plan that is feasible for both parties involved. Thank you for your attention to this matter, and we look forward to your prompt response. Sincerely, [Your Name] [Your Title/Position] [Company Name] [Company Contact Information]
Virgin Islands Sample Letter for Request for Payment Plan concerning Default
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How to fill out Virgin Islands Sample Letter For Request For Payment Plan Concerning Default?
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FAQ
As agreed upon in our conversation, I will make a payment in the amount of: $ _____ on or before the ____ of each month, until ___________ (date). At that time I will then begin making the regular minimum payment on my account. Thank you for working with me during this difficult time. Sample Letters to Creditors bankesb.com ? assets bankesb.com ? assets
Recently have come into financial hardship due to and so wish to pay off the debt in instalments. contacting you in good faith so as to demonstrate intention of paying this debt and hope that both of us can reach an agreement. Thank you for your understanding and taking the time to consider the above proposal. MAKE YOUR FREE Letter Proposing Payments in Instalments Rocket Lawyer ? ... ? Manage finances Rocket Lawyer ? ... ? Manage finances
I hereby undertake to repay the loan to you in _______ equal and consecutive monthly payments, as of the month of ____________, of the year ________. I am aware that you agree that I may be eligible, at any time and from time to time, to pay off any balance of said loan, all or part thereof.
[Client Name], I hope you're doing well. I'm reaching out to you to remind you that your payment of [payment total] for invoice [invoice number] with us is [number of days] overdue. ing to our records, you should've received the invoice I'm referring to in the mail on July 5, 2022. How to Ask for Payment Politely (Letters, Emails, Phonecalls, Etc.) etactics.com ? blog ? ask-for-payment-politely etactics.com ? blog ? ask-for-payment-politely
Keep the subject of the letter precise and in one sentence. The details of the organisation from which the order has been made and the details of the order itself should be elaborated clearly. The main body should be informative about the reason behind writing the letter and the pending payment to be made.
Contact your creditors by phone, email or letter to tell them about your situation and to make an offer to pay the amount you can afford. It's recommended to send a written copy even if you come to agreement over the phone. Arranging debt repayment plans with creditors - StepChange stepchange.org ? debt-info ? arranging-pay... stepchange.org ? debt-info ? arranging-pay...
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.
I have set up a realistic minimum budget for my living expenses and have developed a debt repayment program. I am hoping you will accept a reduced payment of per month. Amounts will be increased as soon as possible until the debt is totally paid. I hope you find this plan acceptable.
