It’s a question every business owner asks themselves; Why don’t my customers pay me on time? And it’s not just small business. Large companies as well have to be diligent when keeping an eye on their accounts receivables.
There are many reasons customers don’t pay or don’t pay on time. And while in some cases a consumer is avoiding their obligations, in many cases, it’s just an oversight.
Here is a list of why customers don’t pay.
- They don’t have the money
- They forgot
- They are backed up in their bills
- Your service was an unexpected cost to them
- They have extended their credit too far.
- They have an issue or complaint with your product or service
- They just don’t feel like paying
- You didn’t invoice them on time
- You invoiced them late
To better your chances of getting paid in a timely manner, consider a reputable collection agency such as American Profit Recovery. Our expert collectors take into consideration every type of reason your customer may have for paying on time and we carefully come up with a resolution.