Setup Disputes
Payment Plan Agreement (Instalments)
A written instalment agreement for a debtor who cannot pay in full, also called an acknowledgement of debt. The debtor admits the amount and agrees a schedule, which restarts the three-year prescription clock and gives you a clean basis for judgment if they default.
Medium risk
Check your contract first. Consider a peer review before sending.
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When to use this
- •A debtor admits they owe you but cannot pay in one go
- •You want a signed schedule that restarts the prescription clock
- •You want a clean basis for judgment if they default on the plan