This question came from a client who wanted help positioning different payment options in hopes of increasing payments and getting clients to pay sooner and more predictably. They were presenting 3 payment options in the following order and asked if I agreed with their logic:
Here was my response:
Actually, I would reverse this order. If they can’t pay in full, we’d say, “No worries. Let’s increase your payment each month.” If they can’t do that, then we’d offer to do a one time extra payment.
Note: But this also changes depending on the client. If they are planning to pay off anyway then do it faster w no discount driving home the benefit of filing sooner.