Promise to pay (PTP)

A promise to pay (PTP) is a borrower's commitment to pay an overdue amount by a date. Collections teams record the commitment and track whether the payment arrives by that date.

Example

For example, a borrower with an overdue $600 balance promises to pay it by 15 June. The collections team records the commitment and checks whether payment arrives by that date; the figures are illustrative.

A promise to pay is a borrower's commitment to pay an overdue amount by a date; Decisimo's collections decisioning records it on a case that wakes if unpaid and creates a task for a named role.