Why a compromising agreement is the way to go. There is no point in demanding immediate payment in full if the customer cannot pay. Negotiating part payment and rescheduling the debt – confirmed in writing – can help you recover some of the money you are owed and improve the chances of maintaining a good relationship if the customer’s problems are only temporary. A compromising agreement could allow for interest and enable you to avoid the effort and expense of taking further action.
To learn more about compromising agreements, email: email@example.com or call our office at: (646) 386-0990 to set up a consultation.