This case belongs to our debt collection entrustment services for a debt amounting to USD 136K. The creditor, seeking a resolution, entrusted Expert Planet to negotiate with the debtor. The creditor’s initial request was to secure 50% of the debt upfront, with the remainder to be paid through monthly installments.
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Marco from Expert Planet promptly sent a payment demand letter to the debtor upon receiving the case. The debtor responded with a proposal to repay $110K in installments of $11K per month, citing defective goods and a bad economic situation. The creditor found this proposal unacceptable since the debtor didn’t notify them defective goods upon receipt and provided no evidence for the claim.
The creditor Insisted on a proposal covering the full debt of $136K and a more reasonable installment plan, Marco’s team engaged in negotiations with the debtor once again. Despite the team’s efforts, the debtor’s second proposal still fell short, offering a full debt payment of $136K but with an initial installment of $15K.
Acknowledging Marco’s efforts, here we must speak highly of our customer service personnel, Miss Kelly Song. She kept both sides in good communication during the whole process. Kelly asked the Expert to stand firm with the creditor’s requirements and push the debtor to improve their proposal
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Marco negotiated with the debtor again. Consequently, the creditor agreed to make some concessions, allowing the first repayment should be more than $15K but not necessarily 50%. After intense negotiations, Marco successfully persuaded the debtor to increase the first two installments to $20.5K each.
Thanks to the combined efforts of Expert Marco and our dedicated service representative, Miss Kelly, the creditor eventually accepted the third repayment proposal. The first installment of $20.5K was received at the end of last December.