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Reminder Letter For Late Payment

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    Looking for how to write reminder letter for late payment? We will guide you by giving example, format and tips which will help you in letter writing.

    When a customer has an overdue payment, you wait for a reasonable time then write them a letter reminding them that they owe you. Below is a format of how the letter should be written and what is should include.

    Introduction

    You need to let the customer know who you are by disclosing your personal details. Give them details of your shop, contact information and why you are writing to them. This is very important as it is the reason you are writing to them. Let them clearly see the essence of paying promptly as trusted borrowers.

    Challenges

    Let the recipient know the challenges you have been facing as a result of their failure to make prompt payments. Make it clear in your writing how they can help you fix these challenges by making prompt payments.

    How to go about it

    In this section, let the borrower know how they can avoid late payments in the future. Give them possible plan they can use to avoid causing challenges that come with late payments. The plan should offer solution to them and you as well.

    Give suggestions

    At this step, give suggestions of what the borrower can do to avoid putting the borrower and lender into challenges that can be avoided.

    Sample Reminder Letter For Late Payment

    March 8, 2012

    George David
    Supreme Services Consultant
    ADV Outsourcing Co.
    00120 Lakewood Street
    Reedwood, 48573

    RE: Ben and Kim Borrower
    367 River Road
    Cityville, MA 23656
    Account Number: 8956369

    Dear Sir,

    In spite of requesting and reminding your accounts and finance department is yet to complete payment of goods invoice on (date on the invoice).

    I hereby execute my duty of informing you that extension for your credit grace period starts on (date when the period begins). I also remind you that failure to make the payment with the interest amount will lead us to taking a legal action as per the signed agreement (indicate the date when the agreement was signed).

    The company’s management will cooperate if you are enduring intense financial difficulties. We can arrange for a meeting for this purpose with executive directors as per your convenience.

    It is our hope that you write off your financial liability the earliest you can without incurring exorbitant expenses. It is also our hope that you will be able to do this earliest possible because it would result to a longer and better relationship between us.

    Looking forward to hear from you soon. Thank you.

    Yours Sincerely,
    (Name and designation)

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