Most businesses have faced and may continue to face challenges in collecting past due accounts receivable. Being persistent generally will increase your productivity in collection and remaining positive will certainly help you stay in a better frame of mind!
Statistics support the idea that most customers want to pay their past due accounts. Thus, being persistent in asking for payment generally will result in recovery of the account. The following are a few tips which may help in collecting the accounts:
- Call your customer often to ask for payment; be the squeaky wheel
- Visit the customer for a face to face meeting to ask for payment
- Ask for details from your customer regarding their cash flow
- Use others within your company (the Owner or others) to ask for payment
- Use your Attorney to demand payment in a timely manner. Call on us for help!
Normally, the faster you act on collecting a past due account, the better the overall result will be.
Today, more so than ever, being proactive generally produces a greater result. You may need to make decisions regarding ongoing business dealings with your customer much faster than in the past. Be proactive, persistent and positive!
Please feel free to contact us when we can be of service to you or your business in collecting past due accounts. We will be happy to talk with you to develop a specific plan to attempt to recover what is owed.