If there was ever a time to get moving on your overdue receivables it is now! It is impossible to predict what is going to happen in this fragile economy, but most suspect it will get worse before it gets better. Now more than ever it is important to get your bill to the top of the pile. But how do you do that?
The trick is, knowing how to create urgency in the debtor to pay your bill first, or at least before the money runs out.
There are many ways to create urgency – none of which include sending a second invoice as a reminder. Direct contact is essential – the debtor needs to hear from you or your representative directly. And you need to communicate that you are under pressure to collect this money now.
If you can’t or are unwilling to do that, it is time to send the bill out to someone who can create that urgency.
BTW there is no reason to be nasty about it. In times of scarcity, people pay people they like, first. And that includes the people you hire to collect debt for you.