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Past due debt1/16/2024 You can remind the customer of any interest and fees that will be added as a consequence of late payment.ģ5-45 days after the due date: Try to make direct contact with the customer, so you can identify any issues preventing them from making a payment and come up with a solution. Here’s a schedule you can follow for sending payment reminders:ħ-10 days after the due date: Send a friendly reminder with a copy of the invoice.Ģ0-25 days after the due date: Send another payment reminder, with a direct but polite message. Doing this makes your communication more consistent, and gives them a heads up to prepare for payment. If you can, make these reminders automated to reduce your workload. Start with sending a payment reminder a week before the due date. Debt recovery plan: how to recover overdue payments Personal steps you can take Here’s how you can recover your overdue payments effectively and get your money back in your register. There are many ways to avoid late payments, but what if you’ve done your part of the work and the payment still hasn’t been made? When you have to pursue an overdue payment, knowing the different steps you can take-whether personal, third-party, or legal-will help you keep your business running and your cash flow intact. When it’s time to collect payments, though, things may get challenging, especially if there’s a delay on their side. Ask your PCA how you can authorize the direct debit option to conveniently and securely schedule one or multiple payments.Having a good relationship with your customer is crucial. The checks are always made payable to the United States Treasury and can be changed or canceled up to one business day prior to the scheduled payment. Preauthorized Direct Debit, a convenient and secure option that requires your written permission to authorize the PCA to draft a check, or a series of checks, on your behalf. Write your name, Social Security number, and tax year on your payment
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