Does getting paid frequently cause headaches for your business? Are your customers getting away without paying you? How can you save the situation? Where can you get a bad credit merchant cash advance to solve your financial problems? Just read below and you’ll get answers to these questions.
Doing Business Without Getting Paid: What to Do
Doing business with a client suggests being paid for your labor, product, or services. What if those payments are late or don’t come at all? Of course, bad debts are the worst type of overhead. The good news is that you can take them under your control. For this, you should create good payment habits and take the right measures.
If you’re caught in such situation, you should, first of all, send a friendly reminder to the given customer, stating that his/her bill is past due. Most of the time, late payments are caused by an honest mistake. So, as soon as the client receives the first follow-up, he/she usually makes the payment without delay.
There’re cases when clients try to delay payments saying they’ve lost the bill. Another reason you may hear will be the need to reconcile their records to find the correct payment amount. If this is your case, consider sending an updated invoice right off the bat, even if you’re sure the customer has the original one. This will help you eliminate the excuse.
If your client doesn’t take any action in this regard, hear their reasons. Ask questions about their satisfaction with your work, the financial hardships they may have, and just anything that might force them to get away without paying you.
What about a situation when the client owes you a large sum of money and isn’t going to pay you or a collection agency based on your contract or invoice terms? In such cases, you’ll need to file a lawsuit. If you really think it’s time to pursue legal action, you’d better consult with an attorney to know the right steps to take.
Businesses Left Unpaid: Bad Credit Merchant Cash Advance Can Help
Going after your payments can take up valuable time for your own business. This will eventually cost you more money. This is especially true of businesses operating on an invoicing system. Owners of such businesses are well aware of late payments and perhaps even nonpayment.
If this is your case and you need business funding right at this moment, consider turning to a reputable alternative online lender to get the necessary financing without delay. With a respectable business funding provider, you can get a bad credit merchant cash advance and other types of business financing to prevent your business from falling into obstacles.
The reasons why you’re faced with nonpayment are numerous. On the one hand, this may happen because of lost bills. On the other hand, this may be caused by unexpected additional expenses that were unaffordable for the customer. Whatever it is, an unpaid invoice can hurt your business badly. So, take the right steps to get the payment for the service or product you’ve provided.
Author Bio: As the FAM account executive, Michael Hollis has funded millions by using business funding (bad credit merchant cash advance) solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.