Client Failing To Pay? Here’s How To Collect

Above Photo: Small claims court is an effective way to collect small debts because it’s inexpensive, fairly quick and no lawyer is necessary.

Clients who fail to pay for hoof-care services are a problem that every farrier experiences at some point in his or her career.

There are a variety of cases and reasons as to why clients don’t pay their farriers. By understanding the United States government’s definitions of non-payments and reviewing the basics for collecting, you can be better prepared for making sure more of the money you earn gets to your pocket.

Unpaid Invoices

Each day, millions of small businesses are getting stiffed or are not paid on time. In fact, according to the National Federation of Independent Businesses, slow or late payments are the most significant issue businesses encounter when it comes to getting the money they’re rightfully owed.

Like most small business owners, dealing with late payments is not your specialty. Constantly letting late payments slide makes you look bad, is unprofessional and financially hurts you and your family.

There are three ways to demand payment on unpaid invoices or bills:

Allowing late payments to persist is detrimental to your business.

Supply each client with your late payments and bad check policies.

In case of a bad check, contact the client to address the issue.

Send a collection letter to the offender requesting payment on the unpaid invoice. Sample collection letters can be easily found on the Internet, as well as in many business supply…

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Esco Buff

Esco Buff, CF, APF, of Webster, N.Y., holds a PhD in business administration and is a member of the International Horseshoeing Hall Of Fame.

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