Home – New Forums Money matters Letter of demand 30 days overdue?

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  • #998646
    Farrie
    Member
    • Total posts: 20
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    Hi

    I’m having a little trouble getting money owed to me from a client. I’ve issued them 2 overdue notices and am sending a Final Notice in a week. I have a feeling they have no intention of paying. They were very offended and left quite a heated voicemail after the first overdue notice.
    Do you think 30 days overdue is fair to have a solicitor send them a letter of demand and possible act of legal proceedings.
    I’ve never had this issue before as all my client have always been very prompt with payment.

    Thanks!!

    #1215180
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,488
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    How you ask for your money is important as well as obtaining the money you are owed.

    We put the following statement on all of our invoices and discuss our terms and our follow up actions with new customers.

    Of course, we still have our share of late payers and some non-payers from time to time:

    We appreciate your business. We rely on On-Time payments for our sustainability. Please copy and paste the link into
    your browser to see our Trading Terms [url]http://www[/url]

    #1215181
    Farrie
    Member
    • Total posts: 20
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    I’m onto making a T&C’s page on my site now

    #1215182
    steve201
    Participant
    • Total posts: 280
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    Hi Farrie

    Does a contract or engagement letter exist between you and your client – that is signed and dated?

    If so try IODM -Innovative Online Debtor Management app.

    You can send the debtor reminder SMS, letters or emails, and eventually send them to the debt collectors after 28 days.

    But you need a written contract.

    Steven

    #1215183
    richk
    Member
    • Total posts: 5
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    Hi All,

    This is a very interesting subject as previous business in the UK was redicilous in terms of chasing outstanding debts. Nothing more annoying to me when you knew stock had sold in the retail shop and we were waiting on invoice to be settled.

    What options/initiatives people offer in order to get an account settled on time, good Prompt Payment Discount?? It can’t all be take take take in behalf of the retailer??

    I’m conscious of this moving forward as looking to get back into wholesaling direct to the retail sector, and wondered if many people do direct payment prior to dispatch of goods to possibly weed out the good from the bad??

    Look forward to hearing what ideas and what people have used that saves time out end chasing bad debts.

    Thanks in advance

    Rich

    #1215184
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,488
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    richk, post: 261302, member: 69168 wrote:
    Hi All,

    This is a very interesting subject as previous business in the UK was redicilous in terms of chasing outstanding debts. Nothing more annoying to me when you knew stock had sold in the retail shop and we were waiting on invoice to be settled.

    What options/initiatives people offer in order to get an account settled on time, good Prompt Payment Discount?? It can’t all be take take take in behalf of the retailer??

    I’m conscious of this moving forward as looking to get back into wholesaling direct to the retail sector, and wondered if many people do direct payment prior to dispatch of goods to possibly weed out the good from the bad??

    Look forward to hearing what ideas and what people have used that saves time out end chasing bad debts.

    Thanks in advance

    Rich
    Hey Rich – this is an old thread and will not draw much attention.

    I recommend you copy your post and create a new thread.

    It is an important question to ask.

    Cheers.

    #1215185
    richk
    Member
    • Total posts: 5
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    Cheers for the heads up Paul, will do!

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