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Doctor Credit

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?
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