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Payment Plan Negotiations

Originally published: August 2011

The Secret is Taking Control

When it comes to setting arrangements for a payment plan with the debtor, time and again I hear new or novice collectors begin negotiations on the wrong foot.

For the sake of this discussion, assume that a given debtor has a legitimate reason to try to set up an arrangement for installment payments.

So, what am I hearing that’s so offensive to my bill collector’s ears?

“Mr. Jones, I can appreciate the fact that you can’t pay the full amount now. But can you pay half now and half later?”

Oh my aching back! When I hear something like that it goes through my spine like a steel spike.