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What to Say When Collecting Past Due Invoices

Enterprise Recovery

When it's your job to collect past-due invoices, what you say matters. Here's what to say when collecting past-due invoices. And what you say will depend on your state of mind when you type the email or get on the phone. It's important that you're well-prepared.

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Don't Let Past Due Invoices Ruin Your Holidays!

Enterprise Recovery

Don't let past-due invoices ruin your holidays! The end of the year signals the looming beginning of tax preparation and budget decisions. It also means closing out the books for the year and discovering delinquent receivables. Use these best practices to bring in more cash before the year is over.

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How to collect past due invoices in 5 steps (with templates)

Chaser

Past due carries significant implications in the realm of financial transactions. It signifies unpaid invoices or payments that have exceeded their designated due date, leading to a disruption in the smooth flow of cash within a business.

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Effective Communication Strategies for Collecting Past Due Accounts

Your Virtual Credit Manager

On a phone call, you should provide a summary of the amount past due, such as “$10,000 over 30 days past due” or reference one or two large past due invoices (number, amount, and due date), but no more. The key issue is securing a commitment to pay the past due invoices.

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Position Your AR to Enhance Working Capital

Your Virtual Credit Manager

Clean up your AR Ledger In a perfect world, your AR Ledger would contain only whole, current invoices. No seriously past due invoices and no “Clutter.” First focus on the “problem” accounts with significant past due as well as any other accounts that have aged over 60 days past due.

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When Outsourcing Debt Collection Makes Sense for Your Business

Enterprise Recovery

Following up on past-due invoices and delinquent accounts can be a full-time job. However, it is invaluable to your business's bottom line. If you're considering outsourcing debt collections or handling them in-house, this post can help clarify the benefits of outsourcing.

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Mitigating Commercial Credit Fraud

Your Virtual Credit Manager

When a fraud isn’t quickly detected, legal action to recover past due invoices can impact unaware customers. And, besides the financial loss, a fraud can impact your customer relationships in the form of mistrust and damaged communications.