The chances of recovering a 60-day past-due account decrease by 38% over time, suggests a study. As a collection analyst, you may have to deal with customers that refuse to pay despite your multiple reminders. Despite using every strategy, your efforts have not produced the desired results. You are left with two options if it could harm your accounts receivable: demand timely payment from your customers and report them to credit bureaus; or file a lawsuit.
But how do you handle these customers? Well, worry no more!
Leverage this ready-to-use letter to remind customers to pay in full or face having legal action filed against them. Download it now!
Key Takeaways:
- When to Use the Letter
- How to Deal with High-Risk Customers
- How to Lower Your Company's DSO
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