This Payment Arrangement Agreement (“Agreement”) is entered into as of [Date] (“Effective Date”), by and between:
Creditor:
Moore Consulting Holdings LLC dba Progress Counseling Group
213 S. Dillard St #120B
Winter Garden, FL 34787
Phone: 407-734-3338
RECITALS
WHEREAS, the Debtor owes the Creditor an outstanding debt for services rendered (the “Outstanding Debt”); and
WHEREAS, the Debtor is unable to pay the Outstanding Debt in full at this time and has requested a payment arrangement with the Creditor; and
WHEREAS, the Creditor has agreed to allow the Debtor to repay the Outstanding Debt through a series of installment payments, subject to the terms and conditions outlined in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:
1. Total Debt
The total amount of the debt owed by the Debtor to the Creditor is [insert dollar amount], which includes any applicable interest and fees. A detailed breakdown of the debt, including the principal, interest, and any fees, is available in the client account records of debtor’s Electronic Medical Records system.
2. Payment Terms
The Debtor agrees to make payments to the Creditor in accordance with the terms outlined below until the Outstanding Debt is paid in full.
Payment Amount: The Debtor shall pay [insert dollar amount] per [week/month] toward the Outstanding Debt.
Payment Due Date: Payments will be due on the [insert date, e.g., “first of every month”] each month, as specified in the electronic agreement.
Payment Method: All payments must be made via [Credit Card / Electronic Processing Service], as agreed upon by the parties.
3. Interest and Fees
The Outstanding Debt will be subject to an interest rate of 0% per annum.
Late Payment Fee: A late fee of $40.00 will be assessed if any payment is not received by the due date.
Returned Payment Fee: In the event that any payment is returned by the Debtor’s financial institution (e.g., due to insufficient funds), a fee of $40.00 will be charged.
4. Early Payment
The Debtor may, at any time, pay off the remaining balance in full or make additional payments without penalty. Any early payments will reduce the total outstanding balance and any applicable interest in accordance with the revised payment schedule.
5. Default
In the event that the Debtor fails to make a payment within [insert number of days, e.g., 15 days] of the due date, the Creditor may consider the account in default. Upon default:
The entire remaining balance of the Outstanding Debt will become immediately due and payable.
The Creditor may pursue legal remedies to collect the debt, including initiating legal action, reporting the debt to credit bureaus, and any other actions allowed by law.
6. Modification
Any modification or amendment to this Agreement must be made in writing and signed by both parties. No verbal modification will be valid or enforceable.
7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Florida, without regard to its conflict of law principles. Any disputes arising out of or relating to this Agreement shall be subject to the jurisdiction of the courts of Florida.
8. Dispute Resolution
In the event of a dispute arising from or relating to this Agreement, the parties agree to attempt to resolve the dispute through negotiation or, if necessary, mediation. If the dispute cannot be resolved through negotiation or mediation, the parties may pursue legal remedies through the courts.
9. Entire Agreement
This Agreement constitutes the entire understanding between the parties regarding the subject matter hereof and supersedes all prior oral or written agreements, negotiations, or representations. No other terms or conditions shall be binding unless written and signed by both parties.
IN WITNESS WHEREOF, the parties have executed this Payment Arrangement Agreement as of the Effective Date.