One of the classic problems that most businesses face is the fact that some clients cannot or won’t pay on time. Utility service providers, the small business owners, real estate landowners, and even credit card companies are always finding ways to make sure that they are being paid as scheduled so that they could continue providing the clients the services they need. If clients do not heed the previous reminders that they have sent to remind them of their payment obligations even before the deadline, then it is when they send past due notices. To know what past due notices are and how to make them, you can continue reading below.
FREE 10+ Past Due Notice Samples
1. Past Due Rent Notice
2. Basic Past Due Notice
3. Sample Past Due Notice
4. Printable Past Due Notice
5. Past Due Balance Disconnection Notice
6. Standard Past Due Notice
7. Past Due Notice and Demand For Possession
8. First Past Due Notice
9. Formal Past Due Notice
10. Past Due Notice Format
11. Past Due Disconnection Notice
What Is a Past Due Notice?
A past due notice is a digital or printed letter that aims to remind clients of their payment dues that they have not settled yet. A past due notice is used in many industries and settings, such as in rental businesses or banking institutions. Nowadays, a past due notice can be sent via text messaging or social media platforms such as messengers so that clients can be reminded immediately especially if they are not able to access their PCs or if they live in a remote area.
How to Make A Past Due Notice Letter?
Past due notices are one of the business letters that most people don’t want to read because of how the content sounds and looks. However, you can always create a past-due notice letter that is client-friendly but will definitely get you the payment you need. Here are some of the tips that we will share with you to help you make one in no time.
1. Use the Correct Phrase to Start Your Letter
When you start your letter, do not directly say “We would like to inform you…” or “It has come to our attention…” as this most likely would already trigger anxiety or would definitely shame your clients. Make your opening paragraph seem friendly and amiable, for example, “We are grateful for giving your attention to this matter…” which sounds better and is more appropriate especially if you do not want to scare a client off.
2. Send Out Complete Details
The next step of your letter should focus more on the details of the overdue payment. These include the payment due date and the amount the client should pay, including interest and penalty. If you want to be specific about the content of your letter, then you can also include a description of the service or product the client should pay for. If you have sent out payment notices before the due date, including the tracking number and date of the invoice or letter for reference.
3. Give Them Payment Terms and Options
In the last paragraph of your letter, give the client payment terms and options which they can avail should they pay their overdue balance. This is very important so they would know where they can send their payment or what applications can they use digitally should they not be able to go to a physical payment center. It is also where you should need to write conditions whether you are accepting a staggered payment or would like to have full payment for what they owe you.
4. For Unpaid Overdue Balances, Provide an Ultimatum
If your overdue notice letter is for a client who has not paid for months even after several notifications, then this letter should also contain an ultimatum. Write down the consequences of what will happen should they continue to disregard your letters such as penalties, or a civil lawsuit (if it involves a huge sum of money). Do not hesitate to lay out your ultimatum and act on them as well after sending this letter, too.
How will unpaid dues affect company operations?
Most businesses rely largely on their financial resources and activities to operate smoothly and effectively. If clients will not pay business owners or service providers on time, there is a huge possibility that the lack of revenue or profit would affect their business negatively such as in the production and sustainability side of the company.
Why do some clients not pay their due despite receiving countless notice letters?
There are various reasons that could definitely answer this question. One, some people have no financial means to continue paying their bills and other obligations. Or, it could be that they do not want to pay and would care less about the company’s woes (which sadly happens most of the time). Third, it could be that the company has sent the notices to the wrong address, thus the client has not been receiving the letters which they also expect to get from their emails or messaging apps.
Why are other companies sending their unpaid due notice without a letterhead?
Unpaid due notices are sometimes sent by the company’s financial advisor or legal representative, and that is why most letters do not have letterheads, only a statement that indicates that indeed it is the company who has sent it. However, it is best to be alert and aware whether this notice letter is coming from a company you owed payment to because it can be sometimes used as a tool for fraudulent transactions.
If you want to make your business work efficiently and be paid on time to continue your services, then it is a must to notify your clients to pay their obligations towards you. Take the opportunity today to send out a notice letter that will definitely prompt your clients to pay their bills on time the next time by downloading our editable templates. You can access and avail of our templates by visiting our website through this article.
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