- July 27, 2015
- Posted by: Taurus Collections
- Category: Uncategorized
Our clients find that persistence is the key when chasing debts, but understand there is a line to be drawn when considering the successful recovery of business invoices.
We have put together a selection of the top excuses from Debtors we find when we collect debts on behalf of our clients. It is important for your business to consider these in the recovery of business invoices so that lessons can be learnt, and so you know when your customer is simply trying to delay payment!
- The cheque is in the post – a very common excuse as this one is difficult to disprove. Best response is to request a cheque number or ask them if they sent it 1st or 2nd class? This usually catches them off-guard if they are trying to delay. If it turns out no cheque has been sent, ask them to cancel it and request a same-day Bank Transfer instead then you can monitor receipt.
- We haven’t received your invoice or statement – always email copies on the date of issue. This way you have a receipt saved in your outbox and you can read out the exact date and time to your customer, and they can check their inbox. They then feel guilty they “missed” the invoice, and often pay within a few days. Or alternatively, send them a copy whilst on the phone and ask them to pay today.
- Debtor not available – people do not want to pay, so they do not always want to answer the phone! We often experience this kind of situation as best rules are to try phoning at different times of the day, often 9.30-10am (pre-meetings), 11.30-12.30 post meetings/ pre-lunch, and late afternoons (afterr all-day meetings). Alternatively ask to speak to a Director or Finance Person and ensure this is given urgent priority to the Company owners.
We hope this snippet has given you an idea of the challenges faced in the recovery of business invoices.
Collecting invoices in a timely manner is crucial to your cashflow and ultimately your business survival, so we wouldn’t recommend leaving it too late to ask for help from a Debt Collection Company.
If you are struggling in recovery of business invoices, and you would like to discuss how we can help, don’t hesitate to call us on Freephone 0800 160 1681 or email email@example.com