With 2022 in full effect we are noticing debtors realisations that their arrears which they envisaged paying in January are not coming to light. 

With many debtors in a Christmas debt 'hangover' it is important for recovery specialists to keep communication active. Debtors who have made promises of double payments they can not keep now need a new realistic plan made- one which is affordable before it spirals out of control and no payments are made. If undue pressure is placed on individual debtors to pay in full the likelihood of receiving any payment at all greatly reduces. It is best to keep in honest open communication with debtors to agree a realistic payment plan to ensure that overall debt is chipped away at.

With many debtors facing the new year with a spring in their step and resolutions on the forefront of their minds make sure you are also up there keeping the momentum for your client to ensure payments are made on time.