A successful collection letter will be:
- Straight and to the point. Use simple language and a firm, but unthreatening, tone in a customized letter that includes invoice date, total amount due and request for full payment with a due date.
- Short. The letter should be no longer than a page with short paragraphs.
- Communicate the consequences of not paying immediately. Don't be rude, but make sure the customer knows what action will be taken and when if he doesn't pay up.
Action Steps
The best contacts and resources to help you get it done
Copy then customize
Write a customized letter, but it doesn't need to be written from scratch. Check out free samples of effective dunning letters.I recommend: CCH offers three professionally written letters that can be customized to meet your needs. CreditGuru.com also has free collection letters and a final notice.
Generate it from software
Software can generate dunning letters and can sometimes be linked to accounting applications you already use.I recommend: Oracle users can download Oracle XML Publisher for free, which generates collection letters as well as financial statements and reports. Business Letters.com offers software that generates collection and other types of business letters.
Turn up the heat
Start with a friendly letter, then make the following ones sound increasingly pointed.I recommend: Read up on Collection Letter Secrets to Getting Paid.
Educate your staff
Spread the knowledge on how to write effective collection letters and talk on the phone with delinquent customers.I recommend: Right A.R.M. Consulting provides debt collection training as well as a training DVD.
Tips & Tactics
Helpful advice for making the most of this Guide
- Flood the zone. Besides a letter, send emails and faxes. Some customers may respond better to a different media.
- Appoint a collector. Training one person to handle the deadbeats frees up the rest of the sales staff and helps ensure the collection process will be effective and professional.
- It's not you. Every business deals with late-paying customers; don't take it personally and keep it civil.
- Pull the plug. If a series of letters, emails, faxes and calls doesn't do the trick, you've done everything you can. Call a collection agency.
Get Collection Service Quotes from Multiple Agencies
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www.alloptions.com
Compare costs, services, and solutions from multiple collection agencies at no cost or obligation!
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www.alloptions.com
Highland Collection Agency - No Collection, No Fee
National commercial collection services focused on business to business collections.
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diversified-credit.com
National commercial collection services focused on business to business collections.
Contact Us
diversified-credit.com
Debt Recovery
Aaron Bryant Stewart & Cross is an exclusive commercial collection agency working on a contingency basis throughout North America. Call for a quote.
www.abscRecovery.com
Aaron Bryant Stewart & Cross is an exclusive commercial collection agency working on a contingency basis throughout North America. Call for a quote.
www.abscRecovery.com
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