What would YOU do? The Creditor - An Accounting Firm who provide accounting and taxation advice. The work done can be disputed. Often is - when a debtor can't pay their fees - even when the work done is excellent. The Debtor - They owe $10,000. Want to 'pay it off" at $1,500 a month. [...]
Q: What can you do when customers are completely ignoring you? A: Take a gamble. Do something different. Throw "everything" at them in one hit. Be extremely firm. The events Wed, 22 Jan - A client emailed us. They had a debt owed to them. It was one YEAR old - $6,814.50. They'd tried [...]
I wrote this post on a Thursday, in April. Just before Easter Friday. Holidays were due to start the next day. Businesses would then be closed until Tuesday of the next week. We used Time combined with Fear Of The Unknown to get one of our clients overdue accounts paid. (The debt was $6,000 at [...]
This is the the second step of an ongoing, "live" Case Study. Click here to go to go to the beginning of this story. ... so, dear reader, what happened next? 12 May - the registered letter was sent as suggested. 28 May - the school advised that the Post Office advised that it was [...]
> When someone is "paying off" a debt (in this case, the Mother of two students who are no longer at the school they were attending) but the amount being paid, although regularly, is so small that it will take YEARS to settle, try this. Background (excerpt from an email we received from the Business [...]
And then, I pulled out the application form ... Many years ago, I worked in the North Queensland Branch Office of a major finance company. A very slow-paying borrower had gone missing. He was two months in arrears, had left his address, not turned up at work and owed us $8,000. A lot of money [...]
When just some of your debtors are NOT "doing the right thing" - that is, paying -- or (worse yet) not even trying to -- send them an email like this ....Dear Mr and Mrs Debtor,Invoice for: Their Company Pty Ltd Invoice No/s: [...]
This is one way to get clients to pay when you really need them to pay. In October one year, one of our Sydney clients, John Smith, contacted me. He was in trouble. He had a very successful coffee bean importing business. Only a few customers. About 25. But ... each customer spent between $15,000 [...]
This series of 8 posts will show you how to collect payments for overdue invoices. Very old invoices! "bob - the builder" is a real, live Case Study. It happened in 2009. The debt was $60,000 and 8 years old. I recorded what did and didn't happen so that you can see the thought processes [...]
The wording below was taken from an email that we sent to a patient of one of our clients, a medical practice. The doctor is a specialist. He wanted to collect an old debt - it was 18 months old. The patient was a 25 year old girl whose Father had been stalling and stalling. [...]