How to help your credit customers avoid delayed payment

[cherry123]

As a business owner you can help your credit customers to avoid paying you late for the money there are owing you. As this will help you to operate the business as successful as you should. So how can you achieve this.

Remind your customers intermittently about their due date for payment

Give a little incentives for early payment

Let them know about the penalty for late payment

Add yours?

 

[Yohanna]

Choosing the best payment gateway will be the best option.

 

[Springtime]

You may provide early bird payment discount. If your customer has not paid on time, send reminders or call their accounting department.. If payment is long overdue, you may get your lawyer to send them a letter specifying legal action may be taken if payment is not received by a certain date.

 

[Niyi Briggs]

Please it is best to offer them quantities that is within their financial reach. Don't be in a hurry to dispose your products and pack and give someone on credit.

 

[Etini Willie]

Your post just reminds me of all this online loan sharks in my country. When your loan is about to be due, they would be calling you every second as if they're your lover.

 

[Stardom22]

You can always achieve by sending a reminding message to them and ensure that you make some follow upon their unpaid dues. You can always advise them on the importance of repaying back their debts on time

 

[Magnus2022]

The best way is to stop giving credit. Credit have ruined many business. I will never advise any business owner to engage in selling his goods on credit. I learned through bitter experience and I will never give my products on credit.

 

[Heatman]

As a business owner you can help your credit customers to avoid paying you late for the money there are owing you. As this will help you to operate the business as successful as you should. So how can you achieve this.

Remind your customers intermittently about their due date for payment

Give a little incentives for early payment

Let them know about the penalty for late payment

Add yours?

I hate reminding any customer that owes to pay me. If you don't pay it, it's going to be very difficult for me to sell any products on credit again for you.

 

[cherry123]

It is good to remind them If your customer has not paid on time, then send reminders or call their accounting department.. If payment is long overdue let them know about it

 

[eldavis]

But would you be able to control everyone? Speaking from experience there are some would always not want to pay on time and would end up causing issues for you in the end.

 

[Starmix]

It is better to reduce the interest charged by the debtors to encourage them to pay on time. It is also good to give a little deduction of the surcharges because the more they feel the burden.

 

[cherry123]

I agree with you, if it is possible apart from reminding them it is also good to reduce the interest charged for them that's is if they are supposed to pay interest in the first instance

 

[Starmix]

There are debtors who may not be able to pay on a certain month so the interest doubles, it will be better for the business provider to reduce the surcharges to make the clients happy and inspired to lay ASAP.

 

[cherry123]

Sure debtors especially those with high debts who may not be able to pay on a certain month they need to be given a lot more time to pay up.

 

[Shavkat]

You may provide early bird payment discount. If your customer has not paid on time, send reminders or call their accounting department.. If payment is long overdue, you may get your lawyer to send them a letter specifying legal action may be taken if payment is not received by a certain date.

I think we are on the same page about this matter. It is a good option to give a reminder for the client/s. Although it is an effort to do this, but we need to.

Post automatically merged: Mar 27, 2023

There are debtors who may not be able to pay on a certain month so the interest doubles, it will be better for the business provider to reduce the surcharges to make the clients happy and inspired to lay ASAP.

It is one of the reasons why I do not go for credit cards. I do not want to have double interest if I was not able to pay. Besides the point, I do not want to have debts as much as possible.

 

[cherry123]

Yeah It is a good option to give a reminder for the some of them can be very forgetful especially when money is involved.. it is a good way to easily get the debt

 

[Reedex]

I have been in business for over a decade and I wouldn't want to sell my goods on credit because I had bad experience with this.

 

[cherry123]

Yesh some people wouldn't ever want to sell their goods on credit because of bad previous experience with it but if you ever change your mind you can use the above to help yourself

 

[relcap23]

Timely reminder is very important. It's also nice to give prompt payment discount and other rewards. One credit company here waives the last installment payment if payments are updated.

 

[Niyi Briggs]

Timely reminder is very important. It's also nice to give prompt payment discount and other rewards. One credit company here waives the last installment payment if payments are updated.

There is a way you remind someone about a debt and it would be as if you are harassing the person. Just try and avoid debts. It easily spoils relationships.