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What procedure should I follow after the instalment plan is approved? What are the legal consequences if I fail to make payment after the instalment plan is approved?

  • Publication Date :
  • Last updated:2023-01-19
  • View count:987
  1. According to Key Point 5 of the “Administrative Enforcement Case Instalment Key Points,” upon approval of the instalment plan, the Administrative Enforcement Agency may order the obligor or third party to provide a letter of guarantee or provide a certain amount of security, or to turn over checks to the custody of the transferring agency. The transferring agency must provide a receipt to the obligor and the enforcement personnel. The Administrative Enforcement Agency may immediately revoke the instalment plan if any payments are not paid on time or any checks fail to clear.

 

  1. If the instalments are not paid on time, the Administrative Enforcement Agency may immediately revoke the plan and enforce the obligor and guarantor’s assets.
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