As it is evident, obstruction or failure to pay one or more installments would lead to legal consideration of the situation since it would be then assessed in terms of the degree of damage and financial loss of the company. The expectant fallout is cancellation of the agreement or penalty charges on the breaching company.
This plan may be liberally applied to tax payment in United States when the payers are unable to pay the taxes in full. The due payments should be cleared every month on time in order to avoid paying the setting-up and penalty fee. For that, the payer must know the maximum amount he is financially capable to pay within the given date. Or else he may be subjected to the extra payments generating undue complications.
The installment agreement has the following advantages as its forte:
The following aspects should be given importance while generating an installment agreement: