Letter to Accept Payment Arrangements Offered by Creditor

Write this type of letter to a creditor who has offered you a payment arrangement plan, and when you want to notify them that you accept the proposed plan. Include pertinent details, such as your account number, the total amount owed, and the payment arrangement amounts and due dates.

[Your letterhead, if desired; if not, your return address]

[Date of letter—month, day, and year]

[Recipient's first and last names]
[Company name]
[Street or P.O. box address]
[City, State ZIP code]

Dear [recipient's name]:

I have received your letter dated 8/7/10 regarding my account number 328929 with your company. That letter detailed a proposed payment arrangement of $15 per month for the next 6 months, until my balance of $90 is paid in full.

I am writing to inform you that I accept this payment arrangement and will make the payments according to this agreement. If at all possible, I will pay off the full balance sooner.

Thank you for your time and consideration.

Sincerely,

[Signature]

[Sender's first and last names]

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