Chasing up Debtors

day 1 - send invoice

day 8 - send statement

day 15 - send overdue payment reminder

day 16 - phone call ask them when they will pay eg next Tues

on the Wed call again and ask again when they will pay

if still not paid after that
-stop credit
-COD only
-send final notice

if not paid within another 7 days consider taking legal action

 

see also https://business.vic.gov.au/business-information/finance/get-paid-on-time/manage-overdue-payments-and-debt-recovery

 

 


Tags: Business |