Payment Plan Agreement With Debt Collector

Payment   P lan   A greement   w ith   D ebt   C ollector  

 

 

 

First   N ame,   M iddle   N ame,   L ast   N ame    

Complete   A ddress  

City   S tate   Z ip  

Phone     *       E mail  

 

Date  

 

RE:     P ayment   P lan

Collection   A gency   N ame    

 

 

 

 

 

Address    

 

 

 

 

 

 

 

City   S tate   Z ip  

 

 

 

 

 

 

 

Attn:     C ollector   A gent   N ame  

 

 

RE:  

Creditor   N ame  

 

 

Account   # :       _ _____________________________  

 

 

Your   N ame:   _ _____________________________     ( As   i t   a ppears   o n   y our   a ccount)  

 

Dear   C ollection   A gent:  

To   f ollow-­‐up   o ur   p hone   c onversation   t oday,   ( Date)   a nd   ( Time),   w hen   w e   d iscussed   t he   a bove-­‐mentioned  

account,   w e   a greed   t o   t he   f ollowing:  

 

-­‐Total   b alance   o f   d ebt:   _ _________________________  

 

-­‐I   w ill   m ake   p ayments   i n   t he   a mount   o f   $ ___________/Month,   f or   a   t otal   o f   _ ________months.  

st

 

-­‐My   f irst   p ayment   w ill   b e   r eceived   i n   y our   o ffice   o n:   1

  o f   t he   m onth  

st

 

-­‐Successive   p ayments   w ill   b e   r eceived   e ach   m onth   t hereafter   o n   t he   1

  o f   t he   m onth,   u ntil   a ll  

 

  p ayments   h ave   b een   m ade.  

 

-­‐My   f inal   p ayment   w ill   b e   r eceived   o n:     ( date)  

 

-­‐Once   a ll   p ayments   h ave   b een   m ade,   t he   d ebt   w ill   b e   c onsidered   P AID   I N   F ULL.  

 

Once   t he   d ebt   i s   P AID   I N   F ULL,   y our   o ffice   w ill   w rite   t o   e ach   c redit   b ureau,   T ransunion,   E xperian  

and   E quifax,   t o   u pdate   t he   s tatus   o f   t his   d ebt   a s   P AID   I N   F ULL.     Y ou   w ill   s end   m e   a   c opy   o f   t his   c orrespondence    

for   m y   f ile.  

 

Unless   I   h ear   f rom   y ou   w ithin   f ive   ( 5)   d ays   f rom   r eceipt   o f   t his   l etter,   I   w ill   a ssume   t hat   t his   p ayment   p lan   i s    

agreeable   w ith   t he   c reditor   a nd   y our   o ffice.  

 

 

Yours   t ruly,  

 

 

Your   S ignature  

 

 

Maintain   a   F ile:      

1)   Make   a   c opy   o f   t he   l etter   y ou   s end   t o   t he   c ollector.  

2)   Send   y our   l etter   b y   C ertified   M ail,   R eturn   R eceipt.  

3)   Attach   a ll   p ostal   r eceipts   t o   y our   c opy   o f   t he   l etter   a nd   p lace   i n   y our   f ile.