How to deal with overdue invoice(s)
What do you do when the payment term of your outstanding invoice has expired? Then you will be the first to send a payment reminder at no extra cost . We list the steps you need to take:
After the payment term has expired, you send a payment reminder with the original invoice as an attachment. It may happen that someone forgets to pay the invoice. Or the invoice is lost, as a result of which payment is not made. Send a payment reminder to point out the outstanding claim. And state a short term of up to 5 days.
Tip: are you not getting any responses to the payment reminder? Sometimes it helps to call the customer. This prevents the e-mails or letters and text messages from not being read, as a result of which the collection comes as a big surprise.
Have you not received the payment after the 5-day payment reminder has expired? Immediately send a final reminder to your customer.
- Business debtors: In this you indicate that you have not received the payment, despite your previous payment reminder. The tone could be a bit more compelling, but remains friendly. And state a short term of up to 3 days.
- A consumer: The reminder must meet various requirements, including a term of 14 days and the explicit mention of the amount of the collection costs, otherwise the legal validity is at stake and the collection costs can be rejected in the event of a court action.
Tip: Let us send your last reminder, we will send the last reminder in the short term according to the important legal requirements, with our logo and our details to give many customers the important push to pay.
Is the payment still outstanding?
Start immediately with our No Cure, No Pay collection : transfer your outstanding claim to our collection agency and let us collect the invoice for you. We automatically calculate the collection costs and statutory interest, which we will charge to your customer. If your customer is still in default after an amicable collection procedure, we have the option of starting legal proceedings .
Payment reminder: everything you need to know
How to collect outstanding payments without damaging customer relationships
Payment reminders: who doesn’t know them? That subtle nudge to pay a forgotten invoice . Here you will discover the art of effective payment reminders, so that you encourage your debtors in a friendly way and collect outstanding amounts smoothly. Read on and learn how to receive payments from unpaid invoice(s) without damaging the customer relationship!
What is a payment reminder?
A payment reminder is a written notification to a customer or debtor who has not yet paid an outstanding invoice. The purpose of the payment reminder is to remind the debtor that the payment term has expired and that the payment is still outstanding.
If the payment term on the original invoice has expired without you having received payment, you can send a reminder invoice . It is customary to first send a payment reminder, followed by a reminder , each time stating a new payment term .
Tip: You can send a final payment reminder or final reminder letter by post, e-mail or SMS.
Legal requirements for the payment reminder
There are no specific legal requirements for sending a payment reminder or reminder to business customers. However, if you are dealing with a private individual (consumer), you must first send a so-called 14-day letter ( final reminder ). Read more about the specific requirements of a final reminder here.
The importance of payment reminders
Good payment reminders are crucial to a company’s success. They contribute to a number of important aspects:
- Preventing collection costs : Sending payment reminders can help to prevent collection costs for your debtor. When debtors are reminded of outstanding invoices in a timely manner, there is a greater chance that they will still pay.
- Better cash flow : Fast payment of outstanding invoices ensures better cash flow. This is essential to running a successful business as it ensures sufficient working capital to meet current obligations and achieve further growth.
- Maintain customer relationship : Payment reminders are a way to communicate with debtors about outstanding payments in a friendly and professional manner. This helps to maintain a good relationship with the debtor, even if there are late payments.
How do you make a good payment reminder?
An effective payment reminder contains some important elements:
- Clear and friendly : Write a payment reminder in a clear and friendly tone. It is important to remain polite and not appear accusatory. As a result, the customer will be more inclined to make the payment.
- State payment details : Make sure that the payment details, such as the invoice number, the amount and the due date, are clearly stated in the payment reminder. This makes it easier for the customer to make the payment.
- Specify a payment term: Offer your debtor a new payment term, for example 5 or 7 days. This gives the debtor time to pay without further consequences.
- Offer an easy way to pay: Clearly state how the debtor can pay the reminder invoice , for example through an online payment solution such as Adyen or Multisafepay or by paying at a bank. If possible, add a payment link so that the recipient can pay directly online.
- Offering a payment arrangement: In some cases, offering a payment arrangement can be a good option. This can help to meet your debtor and still receive payment.
Download sample payment reminder
How do you send a good payment reminder? Below you will find an excellent example of an informal payment reminder ,
can you download it so that you can send it to your customers?
Include at least the following:
• Invoice reference / order number
• Invoice number / invoice date
• New payment term
Download a sample payment reminder letter for your customer below
This is what our customers say
“Highly recommended! Very very helpful! Despite it being a relatively small bill, they handled it as if it had been a big one. I am so glad I hired them.” Studio Rodenhuis
“Very good communication, clear website and secure environment in which documents and communication are shared.” HSV the Working Dog Teteringen
“Unfortunately I have to use this service sometimes; but i’m happy with it when i need it. I have now been helped 2x; 1x with a private individual and 1x with a company who stuck their heads in the sand…” Handyman Michel
“I have a very high regard for debt collection agency Credifin, I have been submitting debt collection cases since 2019, almost always with a good result, I found them at the time via a youtube video ( Engage debt collection agency I Credifin – Expert and innovative collection for fast results! ) , I thought , that video looks professional, I’m going to give it a try, I created an account and got to work right away, I haven’t regretted it to this day.” Administration office de Jong
Our collection professionals are ready to help you!
In summary, sending payment reminders in a timely and effective manner is essential to the financial well-being of your business. By investing in good customer relationships, clear payment terms and efficient processes, you can limit the number of payment delays and maintain a healthy cash flow.
But be warned: sometimes you come across stubborn defaulters who throw a spanner in the works. In such situations, we as a collection agency offer rescue. Our experts ensure that you still get your money without putting your customer relationship at stake. Our collection heroes are always ready to help you collect your overdue payments.