If you look around on the Internet, you are sure to find many examples of collection letters. Most of these letters will include the basic elements listed below.
|July 1, 2011||Date of Letter|
123 Main St.
Everytown, IL 12345
|Address of Customer|
|Dear Sir/Madam||Can be made more effective with the name of actual contact|
|Re: Overdue Invoice #_______ in the amount of _________.||Facts about the invoice|
|Thank you for your recent business. Our records indicate, however, that the above referenced invoice is currently overdue.||A first letter will simply let the customer know that the payment is overdue as there could be many legitimate reasons affecting the situation.|
If there are any questions with this invoice, please feel free to contact us. If not, please remit payment to the following address.
|A call to action and contact info.|
We thank you for your business and look forward to a continued relationship.
Your Name & Title
A sample collection letter similar to this may work well as the first form of correspondence, but future letters should get more direct and start to issue potential consequences if payment is not received. See our article on how to write a collection letter for more information.
If the thought of writing, mailing, and following up on all of these letters seems like too much of a distraction to your business, consider using our Profit Recovery System. Our proven system provides the power of a third party to collect on your overdue accounts quickly and cost effectively. All you have to do is submit your accounts to our online system, and we do the rest. You still collect the money directly, and you control the whole process through our online client portal that is available 24/7.
For more information on how the Profit Recovery System can help you manage your collection process, please call us at 1-888-446-4733 or click on the contact button below.
This information is only intended as advice. Please consult with a collection agency or an A/R collections consultant for additional information.
Transworld is the Cost Effective Solution ~American Mint
"As a national direct marketer, we faced some very unique challenges in the area of collections. Transworld not only helped us meet these challenges, but helped us exceed our goals in a very cost-effective manner."
Tom Miglino, Vice President