Sending late payment letters is a useful way to chase overdue invoices. Sending this type of letter should prompt the customer to pay the overdue amount. If the debt remains outstanding, you should send a second payment reminder letter at a time you deem reasonable, taking into account the number of days you have given the client to repay the debt. If the debt persists, a final payment reminder letter should be sent with the intent that you are prepared to take legal action to collect the money that is owed to you. This is sometimes called a “Letter before Action” and two weeks is normally the time given to settle the invoice. At this stage, it would be wise to receive legal advice.
Stop the problem before it happens and contact Centre O. We can provide consulting and assistance to your company and inform you of ways to stop the occurrence of preventable troubles. To get yourself started early, please contact us by phone +852 31242888 or by email at firstname.lastname@example.org to discuss your company!
You may also be interested in these other blog articles: