What does “installment agreement” mean?

A deal to pay a debt in monthly parts. Also called a payment plan.

What to do

For IRS debts you can often set one up online on IRS.gov. Fees are lower if you apply online and pay by direct debit.

You may see it in letters from

• Utility company — Electric, gas or water company
• Student loan servicer — Student loan company

“installment agreement” is a English word used in official letters in the United States. Briefly explains words like this automatically when you check a letter.

More office words

levy · lien · garnishment · Collection Due Process · Notice of Deficiency · Taxpayer Advocate Service · audit · adjustment · all words