Four Ways to Prevent Excuses for Missed Payments

As a finance company, you are familiar with the common excuses that clients give when they miss a payment. They may admit to their mistake and say that they forgot or did not have the money to make the payment that month. Other clients may blame your billing process or circumstances that were beyond their control. Rather than tolerate the excuses, you can create a billing and payment process that prevents them. This way, clients can blame only themselves when they miss a payment. Here are four fixes to common excuses for missed payments: Multiple Ways to View the Bill: Clients may claim that they could not find the bill, whether it was losing a mail copy or accidentally deleting an email. This is a flimsy excuse because the client could have asked you for another copy of the bill. There is even less of an excuse if you allow clients to pay bills through an online account. Encourage clients to register on your site, where they can always view their bills and make easy payments.…

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