Debt collection law firm
Unfortunately, in some instances during the initial call, this may be time that you may pick up on the fact that your customer may be struggling and will not be paying the receivable in a timely manner. Depending on the nature of the call you will be able to determine if your customer is sincere in its desire to pay your company or is ducking the obligation. During this call make notes of what your customer may tell you. If a reasonable repayment plan can be established, confirm the plan in an email. Ask your customer to confirm the debt and repayment plan. This may prove useful later down the road if the account has to be turned over to a lawyer for suit. Remember, the goal is to get paid and receive repeat business. In an ideal world this would be the case. However, in today’s economy, this is not always the case.
Send a statement of account to customers with balances over thirty (30) days old with a handwritten note simply stating “Please be so kind to pay your balance.” This is another gentle reminder that payment is past due and that payment is expected. If payment is not received within forty-five (45) days, place another call. This is the time where it will become apparent if payment will be forthcoming, if payment terms need to be discussed or if it is time to turn the account over to a third party to assist with collecting your money.