If any of my prior clients are making settlement payments on a monthly installment plan and are experiencing cash flow issues due to the current crisis, feel free to contact me for assistance.
Tuesday, April 21, 2020
Payment Abatements for COVID-19
Sunday, April 5, 2020
Payable Accounts During COVID-19
Many businesses have found themselves with drastically lower revenues or even no revenues at all during this crisis. Unfortunately, bills still need to be paid.
Overall, I have found most commercial creditors to be sympathetic to this situation and willing to allow some flexibility with payments on a temporary basis.
I have always said communication with creditors is key when experiencing cash flow difficulties. Although commercial creditors may be fully aware of these issues today, it is still important to remain in contact. Not making payments along with not communicating will leave creditors with little option but to step up collection efforts.
Keep in touch with any past due accounts during this time and discuss the possibility of short term flexible payment options to help get through. I believe you will find your creditors to be receptive and willing to work toward a manageable payment plan.
Scott F. Soape
Overall, I have found most commercial creditors to be sympathetic to this situation and willing to allow some flexibility with payments on a temporary basis.
I have always said communication with creditors is key when experiencing cash flow difficulties. Although commercial creditors may be fully aware of these issues today, it is still important to remain in contact. Not making payments along with not communicating will leave creditors with little option but to step up collection efforts.
Keep in touch with any past due accounts during this time and discuss the possibility of short term flexible payment options to help get through. I believe you will find your creditors to be receptive and willing to work toward a manageable payment plan.
Scott F. Soape
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