Is it permissible to account a debt owed by an indigent and procrastinating person as being from the Zakat funds that must be distributed to him?

If a person is in hardship, they are among the debtors (gharimin) to whom Zakat may be given. It is permissible for you to take a portion of the Zakat money that you were entrusted to receive on their behalf for yourself, and send them the remainder.