installment agreement
Structured debt repayment
An installment agreement is a formal arrangement to pay a debt in regular portions over time rather than all at once.
The term appears most often in tax contexts, where taxpayers who can't pay their full bill negotiate with the IRS to make monthly payments: She set up an installment agreement to pay off her back taxes over three years.
- interest rateCost of borrowing money
- car loanBorrowed money for wheels
- monthly paymentRecurring scheduled remittance
- principalChief school administrator
- contractEnforceable written agreement
sign on the dotted line · payment schedule · promissory note · amortization · payment plan · credit score · repayment terms · prepayment penalty · loan term · debt-to-income ratio · grace period · final payment · late fee · breach of contract · enforceability · legal recourse · financial obligation · layaway
installment agreementlump sum payment
Full amount given once
single payment · lump sum · one-time payment · full payment · balloon payment
installment agreementprepayment
Payment made beforehand
advance payment · upfront payment · cash on delivery · COD · prepaid plan
installment, agreement, install, installation, installing, installed, installer, reinstall, reinstallation