Thinking of Collection Letter Sample. Debt collection is one of the most difficult jobs one could ever have. Debt is given to the creditors by the debtor for any kind of personal or professional use. Both the parties agree on a date by the end of which the debtor will pay the fund. But in many cases, Debtors do not pay the loan on time.
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Creditors are restricted to use their tactics for collection. You can’t harass your debtor for making payment as this will affect the reputation. Company has to maintain its goodwill and on the same time they have to collect the payment of debt. So it should be done in a professional manner.
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Write the collection letter to the debtor and ask him to pay the loan. In this way, you will communicate with the party and remind them about their payment. These letters must be written well so that they will not affect the customer relations as well as help you in getting the amount of loan back.
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We have amazing collection of samples that will help you in writing the best professional letters. There are many things regarding format and content that you must keep in mind. These samples describe all the necessary points that are perfect for you. Also you can edit these samples to prepare your own letter. Checkout the range of these samples here:
Tips for writing the letter
- Give extra time: Debtor may require extra time for arranging funds for paying the loan. So it is necessary to give them a chance before taking any lawful action. It may be possible that debtor is facing financial crisis so you must ask them about the reason of not paying the loan. On the basis of their acknowledgement, give them the last date.
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- Be formal but polite: The tone of your letter is important when sending it to the client or customer. Your words must not be rude instead your must write firmly. Your letter should be formal and professional. It is obvious that if the debtor hasn’t paid the loan then you will be writing in a strict manner but you should be polite as rudeness can affect the business relations.
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- Consequences of nonpayment: mention the legal actions which the debtor will face for not paying the loan on the last date. Debtor should be aware other penalty he will get if he do not clear his due payment.
- Last date and amount: do not forget to write the last date you have assigned for the debtor. Also mention the amount that must be paid by the debtor. This will be an official letter for the party to pay the total amount by the given date.
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- Check information: before sending the letter to the party, you must check all the details and the sense of letter. This will be a professional letter so you must check it thoroughly.
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These tips are very useful and following these steps will surely result in getting your money back. Also these kind of letters sent to debtor can be considered as evidence to show that they have given notice before taking the legal action.