How to Pay Off Vendors in 8 Easy Steps

This week’s template will help you pay off vendors and track payment plans.

A lot of us get unorganized when there is extra stress in our lives. When that stress is from not being able to pay off vendors, you need a game plan. 

Step 1: List the debts with name and amount
Step 2: Note if there is a statute of limitations
Step 3: Make notes on your relationship with this vendor
Step 4: Identify the primary contact and their email or phone number
Step 5: List current terms, interest rate for past due amounts, and other contract info
Step 6: Decide your MAX payment amount and how often you can to pay
Step 7: Setup a formal meeting to negotiate a payment plan
Step 8: Track the payment plan terms, date, and amount of each payment

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Clarity Cash Flow

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Clarity Cash Flow is an online resources with a mission to provide business operations with the best cash forecasting and treasury management information available on the internet.

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