How to get your Unpaid Invoices paid

Finance Article from Cashflow Finder

Are your customers not paying your invoices? Here is the simple secret of how to get unpaid invoices paid and it always gets a result.

The simple secret to getting your invoice paid is to ring your customer and ask for your money! It’s personal contact and it can’t be ignored. Sounds obvious, but many small business people never do this, because they are too shy or even too scared, but it’s the only way that you will actually find out what’s going on and when your invoice is going to be paid.

All other collection tools like statements, overdue stickers, reminder letters, and even emails are easily ignored and forgotten, because they are impersonal. A phone call means you are talking to the person who owes you the money, or works for the business that owes you the money. He or she has to answer your question, which should be something short and simple like “I’m ringing for payment of my unpaid invoices to you for $xxx, which is overdue”. Then say nothing, wait for the response.

Get a commitment to pay the invoice by a certain date, write it down and ring again (and again and again!) until you get paid. The only form of contact more powerful than the phone is to personally visit the customer to collect a cheque, which you should do if the customer won’t take your calls, or if payment promises are not being met.

Need more help in using the telephone to get paid? Read our article on the complete telephone Top 10 Tips - Collections toolkit.