|
Installment Agreement (Comprehensive)THIS AGREEMENT by and between [Name of company] having its principle offices located at [Address], hereafter referred to as "Company" and [Name] of [Address] hereby referred to as "Client" The Company has reviewed client’s budget and prepared a debt management plan to assist client in their effort to reduce debt with affordable payments. The Company will deposit client’s funds in trust account and disburse to client’s creditors on a percentage basis. The Company will provide client with a monthly statement accounting for all the funds received from client and payments made on client’s behalf. The Client gives the Company the right to negotiate new payment arrangements with creditors. Most creditors support and work with the Company, but we cannot guarantee that all creditors will accept our proposal. The Company will do all we can to arrange payments all parties can accept. The Company may divulge personal information to creditors regarding total indebtedness, ability to pay, etc., when deemed necessary to negotiate final payment arrangement. Client understands that as a non-profit agency, the Company may receive donations from creditors, though no creditors are required to make donations to the Company. Client agrees not to obtain further credit without consulting with the Company and to adhere to the budget, which has been established by and with a Company counselor. Client is responsible to monitor their creditors’ statement to ensure correct and timely posting of payments. Client will inform the Company if there is any problem with incorrect information showing on the creditor’s statement. The following type of accounts cannot be accepted in our Debt Recovery Program: Loans with secured collateral Student Loans Loans involving co-signers unless the co-signer has also signed our agreement forms. The Company is not responsible for any litigation, which is in process or may arise in the future between client and creditor the Company in no way assumes liability for client’s debt. This agreement does not release client from the original contract with creditors. The Company is not responsible for any delay in payments to creditors due to U.S. mail delivery. The Company is not responsible for information placed on credit reports by creditors. The Company will strive to meet creditor due dates, but is not responsible for late payments due to payments missed by client. Client will pay an initial enrollment fee of [$------] upon execution of this agreement to help cover costs of opening the account and creditor negotiations. Client agrees to deposit a total payment of $------ starting on the 5th ________ and/or 20th ______ of each month beginning _______. (Client may choose to make one monthly payment or skip the payment into two payments per month) This total payment includes the monthly administration fee to be determined by the counselor using the Company sliding scale method. This administration fee is calculated at $------ and may be deducted from client’s monthly deposit. Client or the Company may terminate this agreement at any time by giving written notice. If this agreement is terminated, all fees paid will be considered earned by the Company. Client agrees not to hold the Company, it’s employees, officers, counselors, volunteers, etc., responsible for any liability whatsoever that may... (Excerpt)
|
How to prepare legal forms (click 
Premium Contract: Ready to fill-in and print. Instant download only $29.95!