The short answer is no, you do not have to accept the debtor's offer to pay by installments or any other form of offer but sometimes it is better to accept the offer than to receive nothing at all. Your Sherforce Client Relationship Manager is extremely experienced in weighing up whether the offer is better than escalating the Writ to the removal of the debtor's goods and will be able to advise you on the best course of action to take.
It is normal practice before we have your agreement to any offer to seek a payment on account from the debtor as a sign of good faith and payments will be accepted by the debtor pending your final approval.
It is important as the Creditor that you do not make an agreement with the debtor without first speaking to your Sherforce Client Relationship Manager to ensure that all the fees that are due and owing have been included in any compromise or agreement that you wish to make. This is because Sherforce can within its Regulations look to you as the Creditor for payments of any fees which it loses out on as a result of your compromise. The way to avoid this happening is to ensure that you discuss with your Client Relationship Manager what you want to do so that you end up with the situation where best the possible agreement is achieved.
