Payment Plan Contract

Dubby · Post by **Dubby** » Fri Oct 02, 2015 3:51 pm

Hopefully somebody on this board could help me with writing up a payment plan. If I am selling something (my car) to someone (another student) and they want to pay over time, obviously we should write out a plan and sign it. My question is whether or not this is enough to make it legally binding in case they stop paying or something. Must a contract like this be notarized? Or are our signatures enough?

Three Valves · Post by **Three Valves** » Fri Oct 02, 2015 4:04 pm

Dubby wrote:...obviously we should write out a plan and sign it.

No, obviously, they need to cash a Visa check and give you the purchase price and they can pay off Visa, or get the $$ from their 'rents.

Otherwise;

NBT (Nothing But Trouble)

Dubby · Post by **Dubby** » Fri Oct 02, 2015 4:36 pm

....I feel like an idiot. That thought didn't even occur to me. Thanks.

Tom · Post by **Tom** » Fri Oct 02, 2015 4:47 pm

Bad idea.

If your "buyer" wants a payment plan, have them do it through a bank (loan) or through their credit card. The buyer will then pay his installments like he needs to, but YOU get paid in full, up front, and YOU don't have to worry about if you'll get paid in another 6 months or not.

Pretty much what Three Valves said.

iiipopes · Post by **iiipopes** » Mon Oct 05, 2015 2:28 pm

Ever think about hiring a lawyer to help you?

Three Valves · Post by **Three Valves** » Mon Oct 05, 2015 2:56 pm

iiipopes wrote:Ever think about hiring a lawyer to help you?

Who needs lawyers when you got us??

iiipopes · Post by **iiipopes** » Mon Oct 05, 2015 3:36 pm

Three Valves wrote:
iiipopes wrote:Ever think about hiring a lawyer to help you?
Who needs lawyers when you got us??

My point exactly.

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Payment Plan Contract

Payment Plan Contract

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