If you’re a new business and certain customers have not been paying you, you need to get your money back. Thankfully, this article will run you through the steps you have to take to get your cashback. If you’re interested, read ahead.
You Have To Be Firm
If you’re a store and customers in your area have been buying from you through store credit, you’re doing something good as you’re increasing their loyalty to you. However, you do it as you hope they pay back the due amount at a certain time period, such as the end of the month.
Unfortunately, the customer(s) may take advantage of you, continuously taking items on credit but never returning the money they owe. You shouldn’t treat this lightly as if you just forget about it, you’re never going to get the money. Hence, it’s important that you be firm and remind the customer(s) about the situation, asking them to pay immediately. Most of the time, this would work.
Are You Reminding Them?
As you’ve made clear your intention of getting the money back, you should wait and constantly follow up. What this means is, every now and then when they come to your store remind them about the bill as this would pressure them into paying it as you showcase how urgent it is.
By constantly reminding them, it would make them act fast as get the money back to you. Of course, you shouldn’t badger them by constantly following up as this would make them fed up with you- completely avoiding you.
Send a Notice
If time has gone by and you haven’t gotten your due yet, chances of them paying it back to you is very slim. That’s why you need to take the leap and write them a written letter. With a written letter informing them of their due, you’re making the matter seem official.
In the letter, state that you’re considering taking legal action as this would make the situation as serious as possible.
Do You Have Their Number?
If the above hasn’t worked, your only choice is to ring up their home. As you got their number, reminding them about the payment is a good step to take as the customer would know the type of situation they’re in, making getting the money back to you a priority.
Of course, with you calling and asking for it, you can get to the bottom of the situation and get to know what’s wrong and come to an agreement.
What about Debt Collectors?
Debt collectors are a serious step to take if you’re considering getting your money back as they’ll work effectively and ensure it returns back to you.
If you’re looking for small business debt recovery gold coast has many names that could help you.
However, you should make sure you’re hiring the best possible debt collectors as otherwise, you’ll make the situation worse.
It’s Time for the Law
Finally, you can utilize the law by filing a police report which would bring the issue to court. With the issue in court, the customer has no choice but to pay you back.
Considering the above, utilize the mentioned points to ensure you get your money back to you.