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Struggling to pay your outstanding balance in one go? In many cases, you can arrange a payment plan to spread the cost over manageable installments.
How to arrange a payment plan with your creditor
Use the form below to submit your proposal for a payment plan. Specify the number of installments and the amount you can pay per term. We will present your proposal to your creditor and contact you with the outcome.
Prefer to email your proposal? You can also send your payment plan request via email to info@collection-company.com. Be sure to include:
- Your case number
- Your contact details
- The amount (in euros) you can pay per week or month
FAQ: Frequently Asked Questions about setting up a payment plan
How can you arrange a payment plan?
Wondering how arranging a payment plan works? It’s simpler than you might think—you just need approval from your creditor. If your creditors agree to your proposal, this results in an amicable agreement.
Do I have the right to a payment plan?
No, you do not have the right to a payment plan. There are no laws or regulations that grant you the right to a payment arrangement. Legally, your creditor can reject the proposal outright, although this doesn’t happen often. We recommend arranging a payment plan promptly so you’ll know immediately whether the creditor will agree or not.
FAQ: What is the maximum duration for a payment plan?
Need more time to pay off your outstanding debts? Wondering how long a payment plan can last? A payment plan can be arranged for up to 12 months.
FAQ: What makes a good payment plan?
Clear agreements are essential when setting up a payment plan—they can save both time and money. Ensure that the terms of the payment arrangement are fully understood by both parties. Key points to include are:
- The exact duration of the payment extension
- The agreed-upon payment dates
- The consequences of late or missed payments
