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Hire purchase. A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time.
For many people facing back taxes or unpaid federal tax debt, a partial pay installment agreement (PPIA) is one solution. PPIAs spread out payments over time, based on how much the taxpayer can...
Unlike a traditional hire purchase, where the customer repays the total debt in equal monthly instalments over the term of the agreement, a PCP is structured so that the customer pays a lower monthly amount over the contract period (usually somewhere between 24 and 48 months), leaving a final balloon payment to be made at the end of the ...
An installment loan is a type of agreement or contract involving a loan that is repaid over time with a set number of scheduled payments; [1] normally at least two payments are made towards the loan. The term of loan may be as little as a few months and as long as 30 years. A mortgage loan, for example, is a type of installment loan.
Long-term installment agreement with direct debit — phone, mail or in-person setup fee: $107. Long-term installment agreement with any other payment method — phone, mail or in-person setup fee ...
Installment loans allow you to borrow money and pay it back in equal monthly payments, usually at a fixed interest rate. They can be handy and versatile personal finance tools.
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