Collecting Overdue Accounts

[Willy P]

Got a few that drive me nuts. In fact, one guy that doesn't owe me a lot, but won't return phone calls or emails is getting an at-work visit from me today. I'm also considering parking my van with placards about his no payment at his home to "speed things up". These are only 3 or 400 bucks, but damn it , it's my money, not theirs.

 

[Willy P]

I guess the work visit promise thingy worked. Money will be ready today after he gets home from work. He's now on immediate payment or service will be refused.

 

[Papa John]

After 26 years in Business I am finally down to just One $126 acct receivable and its only 1 week old... The odd thing IS-- we have required payment due at the completion of the work for about 5 years now.-- we reluctantly cave in sometimes to some accts and allow billing.

Collecting a deposit with credit card at the time of booking has helped with the collections process.

 

[Desk Jockey]

I just got paid on a 48K fire loss I had been waiting on since February. Got the run around from the third party evaluator. After sending 100 images and supporting documentation it took several months to collect. I don't mind being questioned but pay the bill!

 

[Willy P]

My receivables aren't quite at your level Richard, but right now I'm sitting on over 12 k in owed paper, Mostly good, but damn, that's a load to carry when you gotta meet paydays and make life happy for everybody else, first. It seems the more growth I achieve, the more load I'm carrying. Better rewards though- and some days opening the mail box is like winning the lottery.

 

[Desk Jockey]

Mine can get up there. Especially when we are working fire packouts. The packout can be 5-8k, then cleaning of contents 10-20k and structure cleaning 8-10K, deliver another 4-5K.

When we have a couple of those going its makes paying the bills tough when cash flow squeaks down to a trickle. Fortunately WDR work pays fairly fast so it helps keep the plane flying but we only cruise when we get some of those big checks in. I started with 100k in my checking this morning and now I'm down to 55. I hate paying bills!

 

[GeneMiller]

Cleaned a house in a very prestigious neighborhood in April. They bought the house and knocked it down and build a bigger one. Very common for this neighborhood. This was the first time we cleaned for her and it was a referral. She said she would be back in about 10 minutes but go ahead and start. Please clean everything plus the sectional. Great, no problem. She never comes back so I call about 30 minutes from finishing. She doesn't answer so I text her. She never shows up so I leave a bill. After a month I called and texted her weekly. I finally stopped by the house and the maid told me she's that way. She never pays her bills. I finally mailed a past due notice and got a check. Her husband got it and paid it. Spoiled rich girl to busy to pay the workers she hires.

Gene

 

[GeneMiller]

Mine can get up there. Especially when we are working fire packouts. The packout can be 5-8k, then cleaning of contents 10-20k and structure cleaning 8-10K, deliver another 4-5K.

When we have a couple of those going its makes paying the bills tough when cash flow squeaks down to a trickle. Fortunately WDR work pays fairly fast so it helps keep the plane flying but we only cruise when we get some of those big checks in. I started with 100k in my checking this morning and now I'm down to 55. I hate paying bills!

I started with 100 in mine too, now down to 55. No k after mine.

 

[Desk Jockey]

I started with 100 in mine too, now down to 55. No k after mine.

LOL I don't believe you Gene.

You look like you make bank and are very frugal with it!