Knowledgebase : Payment Arrangements within Ezi Debt Collection > What is a Payment Arrangement?
What is a Payment Arrangement?
Posted by Matty on 28 March 2018 10:02 am

A payment arrangement exists when a debtor commits to paying the balance of the debt.

This can occur either through a promise to repay the debt in full on a future date agreeable to both parties, or through a recurring repayment schedule through regular intervals for a consistent amount.

It is important to note that during the process of a payment arrangement, a debt is still considered outstanding until the full balance has been repaid. If at any stage an agreed payment arrangement is not upheld, debt collection activity for the remaining balance may resume unless this can be rectified.

In such instances, an Ezi Debt Collection will contact the debtor to re-establish a payment process.  If the debtor is unresponsive, the collection process will resume.