Installment Plan

Hire purchase (abbreviated HP, colloquially sometimes never-never) is the legal term for a contract, in which a purchaser agrees to pay for goods in parts or a percentage over a number of months. In Canada and the United States, a hire purchase is termed an installment plan although these may differ slightly as in a hire purchase agreement the ownership of the good remains with the seller until the last payment is made. Other analogous practices are described as closed-end leasing or rent to own.The hire purchase agreement was developed in the United Kingdom in the 19th century to allow customers with a cash shortage to make an expensive purchase they otherwise would have to delay or forgo.
Posts about Installment Plan
  • Do I Still Need to Pay My Taxes if I File for Bankruptcy?

    … are sometimes referred to as “trust fund” taxes. They include an assortment of different types of taxes such as Medicare, Federal Insurance Contributions Act (FICA), and certain kinds of income and sales taxes. Second, the taxes that you are trying to discharge must be listed on a tax return that was supposed to be filed with the IRS or the state at least…

    Michael West/ Law Office of Michael West- 29 readers -
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