How to Collect Money you are Owed

If you have a small business and are having trouble collecting the money that is owed to you, here are some tips to help you.

Instructions

1. If you have been sending bill statements and have received no reply, call. You may be sending them to the wrong person, or they may not be getting them at all. Make sure you are talking to someone that can pay the bill.

2. Ask for payment over the phone. If you are not able to do that then get the information and direct line to the person you are talking to and a specific amount and then tell them you will be following up if you don't receive the payment in 3 days.

3. Always ask for the full payment and then you can negotiate down from there, if you have to, but don't hang up until you get a payment. Offer a discount if they are able to pay the full amount.

4. As a last resort consider turning it over to a collection agency and tell your debtor you will. This usually will be enough to get them to send you a payment.