Payment Plan Letter Template – Australia

From:
[Your Name]
[Your Address]
[Your Email]
[Your Phone]

To:
[Recipient’s Name]
[Recipient’s Address]
[Recipient’s Email]
[Recipient’s Phone]

Date:
[Date]

Subject:
Payment Plan Agreement

Introduction:
This letter outlines a proposed payment plan regarding the outstanding balance of [amount owed] that is owed to [Your Name/Company Name] as of [date].

Payment Details:
The proposed payment plan is structured as follows:
1. Total Amount Owed: [amount owed]
2. Payment Schedule: [insert schedule, e.g., “Monthly payments of [amount] starting on [start date].”]
3. Duration of Payment Plan: [insert duration, e.g., “The payment plan will last for [number] months.”]
4. Payment Method: [insert method, e.g., “Payments can be made via bank transfer, credit card, or check.”]

Consequences of Non-Payment:
If payments are not made in accordance with this plan, [Your Name/Company Name] reserves the right to take further action, which may include legal proceedings or referral to a collections agency.

Agreement:
If you agree to this payment plan, please sign and return a copy of this letter by [response deadline]. Your prompt attention to this matter is greatly appreciated.

Sincerely,
[Your Signature]
[Your Name]
[Your Position, if applicable]

Accepted by:
[Recipient’s Signature]
[Recipient’s Name]
[Date]

From:
[Your Name]
[Your Address]
[Your Email]
[Your Phone]

To:
[Recipient’s Name]
[Recipient’s Address]
[Recipient’s Email]
[Recipient’s Phone]

Date:
[Date]

Subject:
Payment Plan Agreement

Introduction:
This letter serves as a formal proposal for a payment plan regarding the outstanding balance of [amount owed]. This plan aims to facilitate repayment while adhering to your financial capabilities.

Payment Structure:
We propose the following payment schedule:
1. Total Amount Due: [amount owed]
2. Monthly Payment Amount: [amount] to be paid every [insert payment frequency, e.g., “30 days”].
3. Start Date: Payments to commence on [start date].
4. End Date: The payment plan will conclude on [end date], at which point the balance should be settled.

Payment Method:
Payments can be executed through [insert acceptable methods, e.g., “direct deposit, credit card or PayPal”].

Default Terms:
Should the terms of this payment plan not be adhered to, further measures may be taken, including potential legal action or other collection efforts.

Acceptance:
Please sign below to indicate your acceptance of this payment plan and return a copy to me at your earliest convenience.

Sincerely,
[Your Signature]
[Your Name]
[Your Position, if applicable]

Agreed and Accepted by:
[Recipient’s Signature]
[Recipient’s Name]
[Date]