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Writing Credit and Collection Letters

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by

Mau Panta

on 13 January 2016

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Transcript of Writing Credit and Collection Letters

Writing Credit and Collection Letters
Step 1: Check the spelling of the recipient's name.
Step 3: The next part of the letter should indicate the deadline for paying the bill and any penalties that may result.
Step 2: The first part of the letter should state the situation, including the concern, date of purchase, amount owed and date due.
Writing Credit
and
Collection
Letters

Twin Purposes
Credit and Collection Letters
Types of Credit and Collections
1. Notifications

2. Reminder

3. Inquiry

4. Urgent Notice/Urgency

5. Final Notice/Ultimatum
Three Factors in Achieving the Twin Purposes
1. amount of money owed, the time elapsed, the nature of the agreement, and the creditor's attitude;

2. debtor's values, feelings of self-esteem, and attitudes toward financial responsibility;

3. debtor's ability to solve the problem withstand external and internal pressures.
To maintain GOODWILL while COLLECTING what is owed.
Guide to Credit and Collection Letters
Step 4: The third part of the letter should indicate the consequences of not paying the bill.
Step 5: The final part of the letter should encourage the recipient to send full payment or to call you to arrange a payment schedule.
Letterhead
Date
(2-3 spaces)
Inside Address
(2-3 spaces)
Salutation
State the concern
State the Situation
Indicate the Deadline
State the
Consequences
Indicate Contact
Indicate Goodwill
Complimentary Close
Signature
Additional Information
NOTIFICATION
REMINDER
Remind Recipient of the Situation
Request Payment and Indicate the Deadline
Indicate the Consequences, Alternative and Contact
Indicate Goodwill
INQUIRY
Inquire
Indicate the Deadline Indicate Failure
Indicate the Consequences
Urgent Notice/Urgency
State the Situation
Indicate Grace Period
(indicate alternative, if agreed)

Indicate Probable Consequences
Final Notice/Ultimatum
State the Situation
State the Deadline
Indicate the Consequences
Raelene Miranda
Alma Mae Garcia
Maureen Panta
Sandra Ragil
Full transcript