A customer that cannot pay me has asked for a six-month payment moratorium and for the opportunity to buy on COD terms in the interim. Comments or concerns?

Answer: To answer this question, we would need to know the answers to the following questions:

• How did they get into this mess to begin with?
• What are they doing to correct the situation?
• How are they paying other creditors?
• What makes you think their COD checks will clear?
• Are they offering security or collateral?
• Will they sign a Promissory note?
• Would they agree to pay interest on the past due balance?
• Is six months the best they can do?
• What is going to happen in six months that will make it certain you will be paid then?