Despite our best efforts, it is common to find ourselves in situations that prevent us from fulfilling our financial obligations and other promises that we might have made. Losing your key source of income, making an emergency payment, or suffering from an injury can throw a wrench in your well-thought-out budget. While there are several options that one can use …
Late payments are a common occurrence for any business and can threaten the solvency of a company. The more unpaid customer accounts you have, the greater the liquidity problem. Outstanding debts not only lead to huge interest losses but if you end up having to compensate the payments with loans, you will have to incur additional costs. Chasing clients to …
Moving to a new place is always enlivening, but before you start packing up and moving out of your current home, you must first deliver a notice to vacate to fulfill the legal requirements of your rental agreement. Failure to which, you may end up facing lawsuits or losing your security deposit. In this article, we’ll be giving you the …
Most businesses dread the process of collecting payments on delinquent customer accounts. Most barely have the time to make all the phone calls or send out emails, let alone make an individualized collection letter for every step of the collection process. However, sending a personalized follow-up letter every few weeks truly helps to collect payment on time. Writing a collection …
We all know asking for money isn’t an easy task. This is especially true if you run a business that is associated with collecting money from customers. Even after successfully delivering goods/services to your clients, they may sometimes forget to pay their invoices duly. As a business owner, you need the cash to improve your cash flow. But chasing clients …
Everybody has been owed or rather have owed others money from various transactions at some point in their lives. Timely settlement of these accounts is usually paramount to continue better relationships between the involved parties as the payments are often vital to business growth. Nonetheless, occasionally, these payments may often delay due to several reasons. This usually leaves the business …
As a businessman, you’ll interact with various types of customers. While some will adhere to the deadlines set by your invoice, others will default to pay in time. However, you shouldn’t get this get to your wits. In this article, we will go through a detailed process of writing a past due letter like a pro. Late payments are common …
When collecting payment of a debt in business, there is a step-by-step process that you use, which involves writing a collection letter. A collection letter is used when a pending payment is due for goods and/or services. Businesses will use a total of 4 collection letters, each with a different format and tone before they move the debt over to …