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HOME::Wealth Building/Finances

Top 7 Ways to Get Paid in 7 Easy Steps

By Michelle Dunn

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There are always some companies and entrepreneurs that have past due invoices and canít seem to get them paid. They might be quietly waiting to get paid not wanting to contact the client for fear of appearing "desperate". Sometimes a big part of the problem is no response, it is bad enough when you are not getting paid, but when orders keep coming in and you are not getting any acknowledgement to your collection efforts, you just canít keep processing orders. This is especially hard for a new or small business. They are not making many sales and then have to spend their time trying to get paid for a sale they made, and in the long run, this causes them not to make any profit on that sale. "If you are chasing slow paying customers, you are not selling more products or services. Time you should be spending on marketing is being spent to get paid on a sale you made and the time and money you are spending on that cuts your profit", says Dunn.

There are steps you can take to get paid on those past due invoices and keep new invoices current.

  1. Gather together all the past due invoices.

  2. Put the invoices in order by date, oldest on top and stamp them PAST DUE.

  3. If you have an email address or phone number with a contact name for your client, email them or call them and give them the information on the past due invoices and let them know their account is on hold.

  4. Mail the invoices to your client with return receipt requested or send them in a flat rate Priority Mail envelope with delivery confirmation.

  5. Send a letter with these invoices stating the age, invoice numbers, their PO#, your account #, total amount due, and any other pertinent information.

  6. Tell them their account is on hold and you will not be shipping any more products or providing any services to them until these invoices are paid.

  7. Include a self addressed envelope and state that you have enclosed an envelope for them to send their check. Give them a date, to have this paid to you.

Michelle Dunn has over 17 years experience in Credit and Debt collection. She is the founder and president of Never Dunn Publishing, LLC, is a writer, publisher, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter.

Michelle has been featured in Ladies Home Journal, PC World, Home Business Magazine, Home Business Journal, Entrepreneur, The Internet Web Source, Professional Collector, and in Home Based Business for Dummies, Shameless Marketing for Brazen Hussies, From the Home-Front The Simple guide to starting and Running a Home based business, she was a featured guest on (NPR) National Public Radio and has been in many newspapers nationwide.

Visit her website at http://www.michelledunn.com or http://www.credit-and-collections.com for more information on how you can make more money collecting the money that is owed to you and having a sound credit policy.

Source: https://Top7Business.com/?expert=Michelle-Dunn

Article Submitted On: October 18, 2005