Top 10 tips to persuade debtors to pay

How to persuade your debtors to pay up?

Going after debtors is a challenging task. Although you are in desperate need of your funds, you also need to tread softly so that you don’t jeopardize the relationship between you and the debtor. Forget the idea or belief that debt collection needs to be messy. While it’s important to exercise caution while lending money to people, you also need to be careful in persuading your debtors to pay without going the bad cop route.

Here are 10 tips that you can employ to persuade your debtors to pay.

Make sure that loans and debts are guaranteed

Give debtors the freedom of choosing repayment plans

Offer an attractive deal

Discourage late payments

Have a deadline

Threaten to inform credit bureaus

Be persistent but patient

Allow debtors to settle debts through assets

Call the debtors at the right time

Hire a debt collection professional

There you have it. Top 10 tips that can help you to encourage your debtors to pay their debts. Do you have any comments or inquiries? Feel free to reach out to us for a non-obligatory chat.