The end of 2022 and beginning of 2023 were really hard on people. The cost of everything was going up (did you see the price of lettuce?) and people were struggling to keep a steady income.
How are businesses now coping?
We always notice when companies are struggling, we see an increase in sending demand letters and litigation. Companies can only wait so long before they get paid.
I think it’s a great time to review the 30-60-90 sue® program. This will ensure that you get paid in time so you can take care of your own business needs.
30 days after you issue your invoice, send a gentle reminder that the invoice is outstanding.
60 days after you issue your invoice, send a firm reminder that the invoice, and interest, is due and you expect payment immediately.
90 days after you issue your invoice, put your customer on notice that if you do not receive payment in five days, you will commence legal proceedings.
The only way to ensure that this method works is to follow through. Don’t let customers keep making endless promises of payment, if you do that, it could then well over a year before you get paid.
We understand that they are your customers and you want to keep them happy, but you deserve to be paid for your services – you are not a bank. Protect yourself and your company.
Want more information on how to ensure you get paid quickly? Inga B. Andriessen and Murray Brown are excellent at getting that done for you.
Christine Allan, Law Clerk