how to collect payment for overdue invoices

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how to collect payment for overdue invoices

how to collect payment for overdue invoicesThis 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 behind an effective collection strategy. See how the three principles of effective account collections are applied in real life.

To see all of bob – the builder as it unfolded, click here or on the image above. It will take you to Post #1. You can see the strategies applied that collected payment for this long overdue debt.
Most of the debt is paid now. Only about $6,000 left. “Took a long time to collect” you may say, but the creditor (bob) had very poor paperwork to support the debt and it WAS 8 years old. You can apply the same principles in your own business and achieve the same results.

 

By | 2017-09-20T10:39:57+00:00 August 22nd, 2011|case studies|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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