Negotiating Debt Recovery #

Preparation #

Before negotiating:

• Know your bottom line
• Research debtor’s situation
• Prepare documentation
• Set clear objectives
• Plan your strategy

Negotiation Techniques #

Effective approaches:

• Listen to debtor’s position
• Focus on solutions
• Remain professional
• Document everything
• Be firm but fair

Payment Plans #

Structuring arrangements:

• Realistic payment terms
• Clear payment dates
• Interest considerations
• Security if possible
• Written agreements

Settlement Offers #

Evaluating settlements:

• Full and final offers
• Partial settlements
• Payment timing
• Tax implications
• Documentation needed