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9 Agreement to Compromise Debt

On occasion a company or individual will encounter a customer who clearly cannot pay, despite the desire to do so. In this case, it may be better to accept a partial payment than to try in futility to collect the entire amount. In this case the best plan may be to a lesser amount which the debtor will agree to pay off.

This document is an agreement between debtor and creditor to a lesser debt amount and both parties agree to comply with the lesser amount and the payment terms set forth.

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10 Second Payment Request

Following a first request to make payment, if the customer or client has still not paid, they may need a second reminder. This letter not only further notifies the customer of default but also creates documentation of the failure to pay should legal issues arise.

Use this document to issue a second notice of failure to pay and to request payment.

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11 Notice of Assignment to Collection Agency

After multiple notices of late payment and/or demand for payment a company may need to take action with regards to a customer who shows intent to avoid payment. Often a company may assign a debtor to a collection agency who will then be in charge of retrieving payment from the debtor. A collection agency will either buy the debt outright or receive a percentage of the payments when or if they are received. Use this document to notify a debtor of your full intention to collect on the account, and let the debtor know you are turning the account over to a collection agency.

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12 Bill Adjustment Request

Use this document to send a request to a company that has overbilled you, that they correct the error. Excess and adjusted amounts will be automatically calculated when you enter the quoted vs. invoice amounts.

You may also use this document to notify your credit card company of a mistake to your credit card bill, and request removal of the error.

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13 Request for Stop Payment of Check

Under certain circumstances you may find you need to demand to your bank that they don't make payment on a check you have written. This means that the person holding your outstanding check will not be able to cash or deposit the check. If this situation arises you will need to notify your bank immediately of the demand to stop payment and give them all information regarding the particular check. Use this document to send a written request to your bank, asking them to stop payment on an outstanding check.

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