Maestro on the Mic

MOTM #465: What to Do When People Default on Their Payment Plans

Monday, April 10th, 2023

In general, payment plans are transactional rather than relational, meaning the biggest reason those plans exist is to increase revenue. They can be a good thing just as much as they can be harmful, but sometimes I think we can forget that there’s a real, human person on the other side of those payments. There’s a way to deal with defaulted payment to keep that person’s humanity in mind, and your own.

Let’s chat.

Welcome to Maestro on the Mic, a podcast that helps online business owners find their passion, generate more profit, and build a life that they love. I'm your host, Dr. Shanté Cofield, aka The Movement Maestro, and I’m stoked to have you here. I hope this podcast inspires you to make moves and do the thing. Action is the answer.

In This Episode You'll Hear:

  • Dealing with payments, not people
  • The purpose of payment plans
  • Do payment plans encourage poor financial decisions?
  • Understanding your reasoning for offering plans
  • Duration of plans
  • Best practices for implementation
  • Handling a defaulted payment

Links & Resources For This Episode:

Watch this episode on YouTube!

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MOTM #463: Blame It All on My Roots (Part I)
MOTM #464: Blame It All on My Roots (Part II)
MOTM #228: Relational Fuckery, Antidotes, and Minding Your Business with James-Olivia Chu Hillman
MOTM #298: Self-Judgement, Hard Work, and Suffering with James-Olivia Chu Hillman

Check out the transcript for this episode here!

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