Betalingsregeling
Payment Arrangement
A payment arrangement is a written or oral agreement between a creditor and a debtor under which an outstanding claim is discharged in instalments.
A payment arrangement provides a debtor with the opportunity to repay a debt in installments where immediate payment is not possible. The parties record their agreements on the amount and frequency of the installments, the duration of the arrangement, and any interest or collection costs. This prevents the creditor from immediately resorting to stringent collection measures or commencing legal proceedings.
In practice, a payment arrangement is often formalized in a written agreement to create evidence and ensure clarity. Lawyers or collection agencies frequently oversee the process and monitor compliance with its terms. In the event of non-compliance, the creditor may nevertheless proceed to service of a summons.
“The lawyer proposed a payment arrangement so that the client could settle the outstanding invoice in six monthly installments.”
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