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Some believe that the best approach for collecting late payments is aggressive, dogged, threatening correspondence. Although this method does have its place, in many circumstances it will further alienate you from your customer, erase the possibility of future business, and make the payment process a personal tug-of-war. A better strategy is to weigh your options carefully, prepare well thought-out communications, keep accurate records, and be flexible.
The letters included in this packet are constructed to help you get what is rightfully yours. They range from polite to tough, from amicable to threatening. In the end, you know your business and your customers better than anyone else: you may want to alter the correspondence to best suit your business needs.
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Word Document
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813
Posted:
08/07/09
Categories
DocStore > Business Resources > Business Forms
Tags
sample collection demand of payment lett..., payment collection letter, types of collection and payment policies

Late Payment and Collection

Demand for Payment – First Notice [Your Street Address] [City, State, and Zip] [Insert Date] [Recipient’s Name] [Recipient’s Company, if applicable] [Recipient’s Address] [Recipient’s City, State, and Zip] RE: Past Due Payment for Account # [insert account #] Dear ___________________: We appreciate your business. However, it has recently come to our attention that your account is overdue in the amount of $______________. This payment was originally due on _____________, 20__. Please remit payment by _____________, 20__ to avoid any late fees. If you have any questions regarding this letter or your account, please do not hesitate to contact us at _______________________. If you have already sent in your payment, please disregard this notice. Thank you. Yours Truly, [Insert Your Name, Title] Demand for Payment – Second Notice [Your Street Address] [City, Stat