DEBT COLLECTING Q & A û Issue 10
By Jim Finucan
® Tiare Publications
319 words
Q) My most important customer has always been very good about paying
invoices on time. But the accountant at that company always gives me
an excuse (too busy, being processed now, etc.). We keep waiting but
the checks don't arrive. I have called the boss but sometimes he is
out of town and can't be reached. The accountant is the person
responsible for seeing that invoices are paid so how can I get her to
issue checks on time?
A) Late payment problems always originate at the top. The account is
only doing what she has been told to do: delay payment. You need to
begin your collection calls right at the top û with the president or
whoever is the head of the company. Be firm and clear: you need
payment in full by whatever day or date and anything less is
unacceptable. If the CEO acts as though he is unaware of the problem,
politely let him know what the situation is and that you plan to deal
directly with him û the decision maker. Bring him into the circle of
accountability and don't let yourself be put off or handed over to
someone else. Then call the accountant and tell her that you are in
direct communication with the head of the company in making the
overdue invoice a top priority.
Communication is the key. When he says "I have lots of work to do>"
You can say "so do I, and unfortunately that's why I'm calling. This
bill is part of the work you need to do. It's being neglected and I
want my money."
Make the call professional but not pleasant, so they won't want you
to call again. People avoid uncomfortable situations yet that's what
it takes to get through to them. Don't worry about putting stress on
the business relationship; chances are good that it will improve it
and their respect for you will increase.
(End)
Jim Finucan personally developed collection methods that made him
a "top gun" bill collector. Now these powerful techniques are
available in his book "Past Due! û A Debt
Collections Manual" More information is available at
http://www.tiare.com/pastdue.htm
