Find the Best Choices in the Bankruptcy Process
How to get paid by customers who, for one reason or another, tend to pay late? A question of common interest to which we will immediately try to respond by providing a series of effective advice, designed specifically to avoid the accumulation of the so-called outstanding credits. So in case of bankruptcy you will have to take the right steps now.
If you want to increase the chances of receiving the money due for the services provided, you must first:
Remember that every customer is a special case
Don’t rely on habit. Even after years of work and dozens of customers who manage invoices and payments in the same way, you may be faced with the exception. The classic customer is there who does not pay if he does not receive the invoice exactly as requested. Whenever you work with a new customer, don’t forget the 3 magic questions to get paid:
- with whom do I talk about the invoices that are paid?
- What information must be provided on the invoice to be paid?
- when do you make payments?
Indicate the payment terms in all invoices issued
Depending on the agreements made with the company you work for, remember to specify on each invoice within how many days from the issuance of the same the balance must be executed: on the spot, at 15 or 30 days? The memo in writing on an official document is to be considered as a rather effective system that allows you to avoid any forgetting by those who owe you money and, above all, to have a tangible proof to justify your requests.
Send invoices cyclically
If you manage customers who pay you in installments, do your best to send them invoices on a regular basis: do you have a one-year contract that provides 12 monthly payments? Always send the invoice in the same period (for example within the first 10 days of the individual months), specifying the balance due date (for example by the end of the month).
Maintain contact with the financial managers of the companies you work for
To make sure you receive the money you are entitled to in reasonable time, you must be able to relate directly to the person making the payments: regardless of whether it is the administration or any other person in charge, make sure you have all its references available ( e-mail address, telephone number, Skype contact, etc.).
Structure an effective corporate credit management procedure
A general criterion allows all your staff to know perfectly the debtor’s situation and, possibly, to be able to undertake a specific action in case of non-payment (verbal-written reminders, legal procedures, etc.) without disturbing you.
In the event that the correct implementation of the points described above does not however cause you to obtain the payments due within the agreed times, we suggest you:
Contact the debtor to discuss the matter:
Remind him of the due date of the payment in question and ask him when he thinks of settling the bill, always keeping as friendly and cordial a tone as possible. If after 15-30 days you still can’t see the credit in the current account, call it proposing a solution acceptable to both parties, which encourages them to pay immediately (for example with smaller installments) and without further costs (for example . additional interests).