An installment payment plan has been established
Last updated July 30, 2024
Via the Respaid through the Payment Link:
To facilitate collection and optimize the chances of recovering the total outstanding balance of a case under a payment plan, Respaid provides debtors with a secure payment link. This link enables the setup of automatic monthly withdrawals, allowing our team to monitor payments effectively.
Directly agreed between creditor and debtor:
If the creditor chooses to establish a payment schedule through direct agreement with the debtor, the case will be immediately labeled as "Recovered."
Consequently:
- The case will be closed within the Law Firm, and collection efforts will stop.
- The case closure email will not be sent to the debtor, as the payment plan remains ongoing and the debt has not yet been fully settled.
If the debtor doesn't stick to the agreed payment schedule and misses payments, the creditor can get back in touch with Respaid. and potentially initiate collection proceedings for the remaining balance due.
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