Everybody knows that there are businesses that have to deal with a plethora of bills and invoices because customer does not pay invoice. This will have its effect on the entrance and exit in business and also on invoice collection or collect receivables or debt recovery. Another thing that one must note is that businesspersons cannot influence the normal payment run because customer does not pay invoice. One of the examples that you can take is that of open invoices where the customer who is unwilling to pay after he has purchased the products and services. Then, the customer falls into arrears and has outstanding debts to enforce claims & his relation with the businessperson becomes sour or disrupted. And, due to this defaulting customer, or outstanding debts there is a lot of cost that is caused to the businessperson including the collect receivables or invoice collection. So, in order to retrieve the amount or invoice collection or the outstanding debts or open invoices or collect receivables from the default customer, the businessperson needs a person who can look after the dunning process till execution and getting of the payment, where reminder by email to enforce claims are sent.
Dunning Procedure –
Someone is needed to take care of the receivable management or collect receivables or the outstanding debts and look after the procedure of collection. In many countries, the procedure for invoice collection or open invoices and correct reminders are strictly regulated with claim meaning. The first reminder will be to the customer regarding the outstanding debts or payment that is due or the amount for invoice collection or collect receivables, where the reminder by email are sent. These all part is carried by the dunning procedure by a dunning company involved in collect receivables. Most of the time it happens that the customer forgets to pay for the open invoices or the invoice gets lost. But with the help of the reminder by email to claim meaning, which is sent in due time together with the dunning procedure (if there is non-payment), then you as a businessmen can look after your official duties and also give chance to the customer (whose payment/receivables is in arrears), to fulfill the contractual obligation. Also, if you want you can request for a processing fee for this. And, why not? What are receivables? What is a receivable? After all you are going to pay for the dunning procedure, where they forderung eintreiben, so you can definitely ask for a processing fee or collect outstanding receivables.
When to do Judicial Dunning –
Plus, if you want more details on the subject, then your lawyer can help you recover with open invoices. If after giving the first reminder, the customer is not ready to pay, then one of the best things that you can do is simply go for a legal process for recover back your money or invoice collection or to collect receivables. Plus, you will have to issue a proper reminder to the customer for making payments or receivables. And, it will give you a chance to think whether outsourcing the process from your company is a sensible one or not to recover the debts or debt recovery or money collection or for collecting invoices. Because if the customer is still unwilling to pay you the money, then one of the best things that you can do is to look for an extra judicial dunning procedure. This is the only way in which you can get your money back, i.e. through the judicial dunning process. There is also an extra judicial dunning process for open invoices, but the extra judicial dunning procedure expiration date is also there, after which a new notice needs to be issued.
Judicial Process –
If you are pursuing a judicial dunning process, then you should also know that there are many barriers with extra judicial dunning procedure expiration that can come and you should appoint a lawyer to recover the debts, or debts recovery so that you can have a high level of security legal one. Several companies are there that Forderung eintreiben or collect receivables, with a standardized procedure, and reminder by email with the help of which you can get the money quickly. They are the one’s who take the risk. Plus, the dunning procedure are for free of charge for your business. There are several ways in which reminder is given to the customers whose payment are in arrears or receivables needs to be collected or collecting invoices. Some of the ways of reminders are as follows –
First Reminder – This is a reminder, which is given on behalf of your company, and it cannot be associated with additional costs for consumers. There will also be other conditions for the commercial customers, but there should be some form of contract for the same. And, in such cases commercial dunning procedure will be followed for collecting invoices or debt collection or debts. For commercial dunning procedure, it is important that there is some form of agreement between the two of you.
Second Reminder – This second reminder is associated with low fee consumers. Also, here they provide a secure dunning letter in dunning procedure, which is legal. In this, you can also take advice from the lawyer, which is important. In addition, this scenario, most of the cost is borne by the businessmen.
Judicial Dunning Procedure – Next, step, which is followed, is the judicial dunning procedure if invoice not paid. In the process of collecting invoices or collective receivables, or debt collection, or money collection in the dunning procedure is followed in which notice is issued by the court. There is also extra-judicial dunning procedure expiration after which final reminder with threat of legal action sample will be taken. Apart from that, legal help is also issued to apply for payment order. Plus, the cost of the entire commercial dunning procedure will be met by the debtor or the customer whose payment is in arrears.
Enforcement Notice with Proper Legal Action – If after issuing a judicial warning letter, the customer does not pays invoice or debts, then enforcement will be applied with proper legal action. When invoice not paid what happens is that a final reminder will be sent to the customer. Final reminder with threat of legal action sample if invoice not paid, you can get online or reminder by email. In this way, when invoice not paid what happens, customer does not pay for services, customer does not pay craftsman invoice the debtor will be forced to settle the receivables or payment in arrears and any claim including the any outstanding fee. Plus, there can also be a bad debt loss, if still the customer doesn’t pays the amount.