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How to Write Effective Past Due Invoice Emails: Templates and Best Practices

Gaviti

If the payment is not received by [Final Deadline Date], we will have no choice but to escalate this matter, which may include involving a third-party collection agency or pursuing legal remedies.

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Four Goals Guaranteed to Improve Cash Flow

Your Virtual Credit Manager

Hopefully, that is why you are reading Your Virtual Credit Manager. If your AR has a sizable balance over 90 days past due, you should make it a top priority to make your final calls, send the final demand letters, and if necessary refer the account to a third party collection agent.

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Are You Hindering Your Collection Agency's Efforts?

Your Virtual Credit Manager

(Photo by Gabriel Meinert on Unsplash ) Don’t Shoot Yourself in the Foot Before examining what needs to be done from a credit and collection policy and procedures perspective, you need to understand the most common reasons collection agencies are unable to collect everything that is due.

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Divide and Conquer Your Past Due AR

Your Virtual Credit Manager

Using such a worksheet, you will be all set to commence your prioritized collection efforts. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. We cover more about working with collection agencies in this article.

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Should You Outsource AR Management?

Your Virtual Credit Manager

There are still some options here, including some firms that can help you with distributing both electronic and paper invoices, but you will need about 500 invoices per month for their services to provide economic benefits Collections : Many Collection Agencies will perform “first partycollections for you.

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Seven Hacks for Improving Later Phase Collection Results

Your Virtual Credit Manager

Furthermore, it is extremely important your later phase collection efforts get the job done, because if they don’t, the best case scenario is that you will be out the cost of having a third party collection agency or collection attorney recover your funds. More About Purchasing Credit Reports 3.

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What Triggers Your Collection Efforts?

Your Virtual Credit Manager

To continue reading and learn about eleven events or circumstances that should trigger a collection response, in addition to when a customer goes past due, you need to be a paid subscriber to Your Virtual Credit Manager. Are there past-due accounts you are trying to collect?