The style of a late payment letter depends on how many letters the business has previously sent. A first notice is to the point, but is friendly and reminds the debtor that payment is late.Continue Reading
Include a copy of the original bill in a first late payment letter, and remember to highlight the original amount and due date. Also include an addressed envelope to make it easier for the debtor to submit payment. It is not necessary to place a stamp on the envelope, but depending on the nature of the business relationship, placing a stamp is also an option.
Subsequent letters focus more on the consequences of non-payment, rather than the non-payment itself. Later letters mention late fees, interest and the potential for legal action if the debtor does not pay. Later letters also have more forceful language. Additionally, instead of attaching an invoice to the letter, include the amount due and any late fees or interest in the body of the letter.
Even if the letter includes an envelope for payment, remember to mention alternative payment methods. These include cash or payment online. Always remember to tell customers that the company values the business relationship. Make sure to maintain a positive and supportive tone in the letters.Learn more about Credit & Lending