Commercial debt collection letters are basically reminders or demand letters for overdue payments. Depending entirely upon the category in which they land in at a particular time i.e. reminder or demand, the tone of the letter is to be framed. While in both cases debtors are informed about their dues to the creditor, it is vehemence with which the letter is framed that differentiates.
Common denominators
B2B / commercial debt collection letters or e-mailers ought to contain complete information regarding the corresponding transactions. Date of agreements, delivery dates and headings, invoice particulars, advance payments if any and references to previous written correspondence regarding the service agreements under consideration have to be provided in a clear & concise manner.
The differentiators
Collections for the purposes of account reconciliations & receivables management require repeated and consistent follow ups. Initially the nature of letters / emails is deliberately mild. The purpose is not to antagonize the client but instead remind the debtor of the dues. It is possible that the issue at hand could merely amount to discrepancies in recorded items or due to variations in accounting reporting formats. In such cases, initial reminder letters serve the purpose by way of opening communication channels towards account reconciliation matters. These initial reminders, mentioning the dues contain all the relevant transaction info, along with due dates for the accrued debts and thereby seek clearances.
If however these letters go unanswered and despite several written / call attempts matter remain unresolved, site visits and one to one communication channels are resorted to. After going through various hoops, if the debtor still continues to be completely uncooperative, demand letters of more formal and strict nature are drafted.
These demand letters contain all the requisite information regarding dues and also shed light on previous recorded attempts to reach upon an amicable settlement. The primary focus is to highlight the severity of situation and in very certain terms enumerate the actions that would be taken in response to delinquent debts. Legal recourse as the last resort is also outlined in demand letters, thereby re-emphasizing upon the suitability of a rational solution to the account receivables management issue at hand.
While it can be attempted to undertake the stated recourse yourself, hiring a professional collections agency as Zzest CRM ensures that the procedural flow is maintained. Timelines are strictly adhered to and the B2B collection process is strictly within the permissible debt collection practices. Furthermore, all pertinent elements of the written communication are precisely included and professional assistance of agents, accounts & lawyers is at your service!
