How do I chase up a debt during COVID-19?

Recovering your debts during periods of economic uncertainty, like COVID-19, can be critical to the survival of your business. However, a blanket debt recovery approach may not be at all helpful. During economic uncertainty, you must consider each debt and your strategy for recovery on a case by case basis. While it is important to recover your debts, you do not want to be left throwing good money at an unrecoverable debt. This article provides guidance on making strategic decisions when it comes to debt recovery during this uncertain economy.

Negotiating an Outcome

One of the best ways to recover a debt during economic uncertainty is to negotiate a mutually acceptable alternate payment arrangement with your debtor, such as: