How to collect outstanding debt from customers with respect

We’ve always said that if you’re in business, you’re always going to have customers that don’t pay or at the very least, don’t pay on time. That’s a fact and not every customer is going to pay you when you want them to.
If your customers are not paying on time, that puts you in a position of having to put more effort into getting paid. That can be in the form of sending out statements, follow up calls and having a collection agency work the account for you.
But it’s how you work your late invoices that can make all the difference in the world. And it all comes down to one word-Respect.
You might search the internet to find strategies for getting your customers to pay, but one strategy that clearly pays off is being nice. So here’s a few tips for implementing respect and tact into your collection efforts.
First, if you have to make a phone call to a customer that hasn’t paid you yet, make sure you and your staff are completely professional. That involves being as respectful as you can, polite, lighthearted and understanding. Never get upset with the customer or let your emotions take over. Confirm that they do not have a reason to not pay, a problem with the service or a dispute. Finding this out early eliminates it from becoming an issue down the road. With that being said, try to stay focused on getting the customer to pay or at least make a commitment to make a partial payment.
If you get to the point where you need to send a letter requesting payment, say at the 60 day mark, make sure the wording is firm but polite in nature. Never threaten anyone in writing and never use harsh language that could jeopardize your chances of getting paid. If you contact our office we have sample letters we can supply you.
And if you need to hire a collection agency, make sure you are working with an agency that has the same values-collecting with respect and tact. Ask them right up front how they plan to treat your customers. Any reputable collection agency will make this a top priority.
Treating consumers fairly is not only the right thing to do, but it is far more effective in collecting your hard earned money.
Want more tips? Head on over to our website! www.AmericanProfit.net