When cash is tight, your suppliers are usually the first relationship you can ease without long-term damage, provided you handle it openly. A supplier who is told the truth and offered a realistic plan will often agree to terms they would never give to a customer who simply stops paying.
Before you call
- Know exactly what you owe, what you can pay now, and what you can commit to over the coming weeks.
- Decide what you are asking for: a short extension, a payment plan, or a temporary reduction in order size.
- Be ready to explain the cause briefly and the path back to normal.
During the conversation
Lead with what you can do, not only what you cannot. Offer a specific date and amount rather than a vague promise. Protect the suppliers you genuinely depend on, because losing a critical supplier mid-difficulty is far more costly than the cash you were trying to preserve. Put any agreement in writing afterwards so both sides remember the same terms.
The same principle applies to us
Credicorp would rather restructure a Credicorp Flex or Credicorp Slice repayment that you cannot currently meet than see it missed without warning. Treat us the way you would treat a key supplier: contact us early, be straight about the position, and propose what is realistic for your company.
See also: Our hardship and forbearance process, What is an HMRC Time to Pay arrangement, and when should we ask for one?, How should my company prioritise which bills to pay first?.