Payment Plan (Installment) Agreement

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This is the amount owed at the time of writing this Agreement. If the Debtor is repaying a discounted amount, it can be entered later.

The OWED RENT is for the Period of:

Vehicle Details

Vehicle Identification Number (VIN) is comprised of 17-characters.

Name of the party agreeing to the repayment.

The party being repaid.

It is common to include a discounted amount as an incentive if the Debtor makes all their payments on time. If the Debtor fails to make any of the payments on time, the balance will be the original amount (less any payments made).




of each month
of each week

Payment Instructions

If no, the form will state all payments due are "equal installments." This means the amount due on the specified basis will be a number that is equal to the total debt divided by the total number of payments. 
Enter the dollar amount due at each installment period.

Such as the Debtor being required to pay via direct (ACH).

Day(s) Late

Some Creditors will require a pre-payment penalty to ensure some kind of return on the borrowed money.

Commonly the State where the Debtor resides.

A Co-Signer, also known as a "Guarantor", allows someone else to be liable in case the Debtor does not pay. The Co-Signer would have the same liability and obligation to pay as the Debtor.

The 1st and 2nd Co-Signer have equal liability if the Debtor does not pay.

The date this Agreement is written. Usually today's date.

Save and finish later