Pay up or I’ll … ??

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Pay up or I’ll … ??

if you don't pay I'll ... I'llWhat can you do when you want a debtor to pay but you DON’T want to threaten legal action? Ever been there? If so, try this. Send a “no real threat” threat email. Threaten the “non-specific”. 

Things like
* consider other alternatives
* have to submit a report to the Board
* have to revert to policy.

This is one.
It’s used sparingly, but normally successfully, in one of our clients, a legal practice.

Dear Mr Hill,

Matter Details: De Facto Property Settlement
Matter Number: 2014567
Amount: $2,456.78

I refer to previous correspondence regarding the above matter.
If there is
* something preventing you from settling this invoice in the near future, or
* something that you need from us, or
* you would like to organise to “pay off’ this debt,
please let us know.

But, if none of the above apply, we do not hear from you by the close of business of Friday, 18 September and it still remains unpaid I will be obliged to revert to policy. I trust that that will not become necessary.

Interesting when you think about it because it’s not a particularly HEAVY one as the ‘threat’ is only “revert to policy”. But try it. It DOES work pretty well as most people have NO idea what your policy is and many firms don’t even have a policy anyway!!! 😀 Tell us why you’re not paying or …

By | 2017-07-19T05:07:30+00:00 July 19th, 2017|Uncategorized|0 Comments

About the Author:

Have you ever wondered why a client does business with you and then ignores your invoice like they had no intention of paying it in the first place or they treat you like their own personal line of credit, leaving YOU dangling, waiting months for their payment? Unfortunately this situation is all too common and can even be puzzling for the most experienced business owner. If you’ve ever had to handle outstanding accounts or you are just so over non-payers, then we can help. Real-world skills, solutions, tips & strategies to get more accounts paid on time, and, most importantly, how to maintain customer goodwill while keeping YOUR cash flow in the positive. You will find the blog posts helpful but to get real results, contact us by using any of the forms on this site, by email or by phone. I’ve been involved in the management of accounts for over 30 years, heard every excuse in the book, can spot a non-payer at 20 paces. Finance Companies in the 70s (systematic, tough), professional firms in the 80s (no systems, too gentle) and, since then, just about every other sort of business you can think of. I’ve written books on the topic, spoken all over the place about it and the blog in this website is my way of “giving back”. I hope you find it helpful.

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