Letter to Creditor Proposing Payment Plan

PROPOSING PAYMENT PLANS

If you have debts and you cannot make immediate payment for your debts then you can write a letter to creditor proposing your payment plan. In the letter you can write about your plan of paying off your debts by fixed and regular installments. The letter can also be used for installment payment to stop the creditor for taking any further action against you. You should outline all the details of your payment plan proposal thoroughly so that the creditors are confident in your ability to repay all your debts.

WHEN TO USE THE LETTER

The letter can be used

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  • When you and your organization are confident that you have owed some money to someone
  • When whole payment of the debt cannot be made immediately
  • When you want to stop the creditor from taking any wrong action against you and your organization

You can also take the help of your lawyer and ask him for

  • The debt which is claimed against you is incorrect
  • Dispute about the debt whether you owe the debt or not
  • Advice on protecting the proceedings of debt
  • Explain your rights which is in contract

The reason behind writing a letter to creditors is that you can advice them about your current situation and ask them to communicate with you. Although you cannot stop the creditors from charging you interest but they can help you by finding different ways to fight against your circumstances.

 

PREVIEW & DETAILS OF TEMPLATE

letter to creditor proposing payment plan

 

File: Word (.doc) 2007+ and iPad 
Size 24 Kb   | Download

File: OpenOffice (.odt) Writer [Writer]
Size 15 Kb   |  Download

License: ENERGY  (General Use)
(Distribution) by Kate Elizabeth(CEO)

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