April 2, 2010, Newsletter Issue #154: Bad Debt Collection Letters to the Moderately Late

Tip of the Week

More about debt collection letters:

It is better to use regular mails early on, at least where domestic collections are concerned. All creditors have their own definition of what constitutes moderately late. Large firms who extend revolving credit lines to millions of people make phone calls and send reminder letters almost immediately to someone who is past due, but the accounts are kept open, sometimes for months. Once someone fails to pay his/her balance in full, make the minimum payment due, or make partial payment arrangements with you, and he/she is more than a week past their due date, there is a problem. It's time to send reminder past due sample collection letters.

(Your Letterhead)

(Address Element) (Date)

RE: Account # _________________

Dear Mr. John Doe:
This is just a reminder that your payment of $_________ has not been received by our collection office. If you forgot to mail us your payment, please send it today. If you have already mailed your check, please disregard this notice.

Sincerely,
Creditor Company (or name of business)
________________________________________________________________________________________________________________

(Your Letterhead)

(Address Elements) (Date)

RE: Account # _____________________

Oops!

Dear Mr. John Doe:
Did you forget to send us your payment in the amount of $______________? These days, with so much going on, it is easy to let something slip. Please send us your payment today and, if it is already on its way to us, please accept our thanks.

Sincerely,
Creditor Company (or name of business) "

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