What happends to people not paying their bills!

We caught a guy trying to haul away his unanchoring POS. So he flees from the system when I try to ransom him for 80mill to get the POS.
Later he agrees to pay 25mill a month for me to not touch his other POS running. What happends?

He pays 6,25mill and promised to pay the rest ASAP. He also told me I could take the unanchored POS (fine, good isk :) ) it'd be useless to him anyhow. I tell him, fine but dont stall for long with the rest of the payment or we would shoot at him..

Few hours later his corp mates returns and starts camping us in the station with an elite frig and mega. We undock , the mega managed to warp away but the elite frig bounces on the station. Scrammed and killed.

Lesson taught: Pay your bills in time!