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A legal services payment plan agreement is established between a client and a lawyer for services rendered, allowing the client to pay in increments rather than a lump sum. These agreements are particularly useful due to the often high costs of legal services. Unlike typical high-interest payment plans, legal payment agreements generally do not include interest but may impose significant penalties for late payments. Key elements to include in the contract are the names of both parties, a description of the services, the total balance due, and the repayment plan details, which must cover the down payment, interest rate, and payment start date. Additionally, guidance is provided on creating the contract and finding official templates.
