Sample Letters For Payment Agreement

Most creditors require the debtor to set up automatic payments that weigh either on the credit card or on the debtor`s bank account for each instalment period. For payment plans of more than 10,000 $US, it is recommended that both parties introduce a notary confirmation to the agreement and sign in the presence of a notary. If the borrower has to pay interest, this should be defined in the agreement, including how the interest is calculated. It is also very important to include the total amount of money borrowed. The amount is clear to both parties and no one can ask for anything else. If there is some interest, add this information as well. You can include it in the total amount or in the determined payments to be paid according to the agreed schedule. .