We do suggest rather than using extending credit to your customers. Look to VISA, Afterpay, or Zip. It is these people's jobs to collect money. Sometimes it cannot be helped, and you are stuck with the debt. If you get caught out, here are the terms that our system used.
Our system uses a very formal terminology and methods here.
A token payment is a small payment made regularly by a customer who cannot afford to pay the full amount you're owed. It shows both that they have a willingness to repay the loan and they have not forgotten.
What can happen is that a person who is paying a little at a time, can at the end owe you almost nothing. This can be difficult to collect. So what we suggest you do is set up a payment plan that includes a balloon payment. This is a lump-sum payment of a decent size at the end