It feels really weird to ask a customer or client to pay their outstanding bill. Generally saying, there isn’t anyone who would find the act of recovering money owed pleasant, but it’s the job; one that demands writing letters for the purpose of collecting outstanding payments every day. Such a letter needs to be formal,… Read More »
Overview Imagine not paying your electricity or gas bill for a month. What will happen? You will receive another one with the surcharge and arrears included. And what happens when you do not pay that either? Well, you may receive a few more accumulated bills after which the utility company will have no choice but… Read More »
Overview In this day and age, if you actually have a heart big enough to lend money to someone, you might just forget its return! You can’t? Well, then you need to contact the person and ask for your money back. Wait, what? You have already done that and it hasn’t worked? It is time… Read More »
Whether it is an outstanding payment that has finally been received or one that has been received for an order that has just been placed, writing a thank you letter is a professional thing to do. A thank you letter serves as an acknowledgment and also gives you yet another chance to communicate with a… Read More »
Getting clients to pay debts in their accounts or for services already rendered to them is one of the most challenging things to do! Clients are notoriously famous for giving you the slip when it is pay-up time so it is up to collections personnel to devise ways to get clients to pay. An effective… Read More »
Once you have received a payment from a customer for a product that you have sold or a service that you have rendered, it is important to acknowledge it. The best way to do this is to write an acknowledgment letter to the customer. An acknowledgment letter for a payment received will serve two purposes… Read More »
Creditors issue a 10-day demand letter to debtors in case of an outstanding payment. The letter charts out an entire scenario of how the debt came about and how long it has been standing in an account. This type of letter may be written by any company (or representative thereof) to clients who owe… Read More »
Demand letters written for owed money can adopt many different types of tones. It all depends on what your relationship with a debtor is. If a letter of this type is being written in an official capacity, you will need to be very formal, but if the person you are writing to is known… Read More »
Talking to an adversary about a payment owed to you is all very well, but it may not generate the results that you expect. After all, dialogue means that there is a good chance of ‘back talk’ and impending arguments, both of which are not exactly pleasant. If you know that the person who… Read More »
One of the most significant challenges for entrepreneurs is collecting outstanding payments from clients. The constant dilemma of defaulted accounts can leave companies with significant losses. In such situations, keeping a balance between excellent customer services and collection activities becomes very difficult. However, there is a way out of everything. While you may feel… Read More »