Once a payment plan is agreed, a number of obligations may be imposed on the debtor, including additional administrative costs. In the event of a written dispute, the heron must cease any further attempt at collection until it has submitted a written debt check (or, if necessary, a copy of the judgment). Non-disclosure within 30 days does not mean an admission of the validity of the debt. USC 15. 1692g (b). As noted above, owners may receive a letter template from the GFPB. As I am currently going through some financial crises, I may not be able to continue with the current payment plan. In checking my financial situation and my monthly budget, I felt it was absolutely necessary to ask each of my creditors for another payment plan until my financial statement improved. And if you are not able to pay, you have a number of options: file for bankruptcy assistance; Sell your unit or if you are over 62, consider getting a reverse mortgage. I will start with regular monthly payments as soon as I recover from this financial crisis. In fact, your letter does not need to be formal, dramatic or emotional. Remember that you write to the board that is human, just like you (or at least they should be). I do not intend to go bankrupt or keep that debt in default.
That is why I would be happy if you worked together to make this payment plan effective. I would like to discuss the possibility of developing a payment plan that would include payments of no more than $400 per month, until I am able to make my full payments on time. Below are a few sample letters to request a written payment contract for an overdue or late account. Don`t forget to make the necessary changes to meet your personal situation. DEAR NORA: Your nephew should immediately contact the company that brings the loan (i.e. the business in which he sends the monthly mortgage) to find out if he is willing to transfer the loan from your home to him.