Payment proposal
An offer setting out how a debtor proposes to pay or settle a debt, including amount, timing and any conditions.
Related terms
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Settlement offer
A proposal to resolve a debt or claim by paying an agreed amount or following agreed terms.
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Repayment arrangement
An agreement setting out how a debt will be repaid over time, usually by regular affordable payments.
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Negotiated settlement
A debt resolution agreed through negotiation, usually changing the amount, timing or method of payment from the creditor’s original demand.
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