When you follow up with your newly delinquent customers, you want to grab their attention. Common techniques for creating urgency include:
- Interest and penalties: Consistent with your credit agreement and state laws, add interest, late fees, or both. Give your debtor the unambiguous message that the consequence of dragging out payment is that they’ll end up having to pay more money.
- Attention-getting words and “big red letters:” It’s corny, but it works. Send notices more often with notations like “urgent” and “past due” on them in red ink. (If you’re dealing with consumer debtors, keep any red ink that suggests the communications for debt collection inside the envelope. You can mark the envelope “urgent,” but save words like “past due” for the printed invoice that you put inside.)
- Frequent reminders: Use a series of collection letters. For pointers on this, check out our guide to writing demand letters.
- Multiple modes of contact: Use different forms of communication to keep your reminders in front of your debtor: email, overnight delivery, telegram, hand delivery, fax, text messages, and even social networking websites – whatever works.
- Making a phone call: If collection letters and similar contacts don’t result in payment, sometimes a phone call will bring in the money.
Michigan Collection Services You Can Rely On
If you’re tired of trying to get ahold of your debtor and you’re looking for reliable collection services in Michigan, you’re in the right place. To get in touch with a collection firm that prioritizes you and your money, call (248) 645-2440 or submit a contact form here.