If you have debts and you cannot make immediate payment for your debts then you can write a letter to the creditor proposing your payment plan. In the letter, you can write about your plan of paying off your debts in fixed and regular installments. The letter can also be used for installment payment to stop the creditor from taking any further action against you. You should outline all the details of your payment plan proposal thoroughly so that the creditor is confident in your ability to repay all your debts. The letter can be used When you and your…
