If you've ever had to pursue collection of an overdue invoice from a client, you can appreciate that it's not the most enjoyable part of your day. Wilson Cole from Adams, Evens & Ross recommends that EVERY collection letter contain these 5 elements:
- Times of attempted communication OR times where the debtor has promised to pay
- An opportunity for the debtor to resolve the issue
- A specific date by which the resolution must occur
- A statement that you "will take things in a new direction" if the date passes without resolution
- Be sure to send your letter electronically AND by regular postal service
Wilson recently wrote an article describing this entire process, which you can read here: https://www.staffingdebt.com/aer-collection-letter/
NPAworldwide member Don Leon, Donald Leon Search (#1372) saw this article and had a chance to try it out with an overdue client. Don says, "I followed Wilson's outline (to the letter) for a client who was way past due and our firm got paid the full amount. Wilson's advice for how to construct a demand letter is spot-on!"