Provided by the International Finance Corporation
Personal visits, telephone calls, and letters are the three most common collection approaches that small business owners use to collect past due accounts. Since many small business owners simply don’t have the time or opportunity for personal visits or telephone calls, a letter is often the method of choice.
The document that you can download below provides an example of credit recovery communication to help you manage the relationship with your clients. You may adapt it to your business needs.
Special Features
All the letters can be quickly customized to fit your needs.
You can choose to send one, or all three, of the letters to a particular customer or client, depending on the circumstances and the client’s payment history with your business.
All three letters follow the basic rule of a “good” collection letter: each is brief and succinct. Long rambling letters that insult the customer for not paying and that recite all the hardships nonpayment has caused are much more likely to be ignored or to be thrown away unread.
Attachments
ICON_WORD.gif Sample Collection Letters
For more resources
10 steps to effective collection
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The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon.