A First Payment Reminder Letter is a short and friendly reminder to repay an outstanding debt. This letter can help you secure payment from a client or customer who is late with their payment and ensures you have a record of chasing them.
You should use this First Payment Reminder Letter when you want to recover a debt that is owing to you or your business. This letter is useful when you want follow up after an invoice and payment terms have been sent and the debt remains outstanding. This letter can serve as the first part of a more formal procedure for collection of the debt, in order to save you time and money spent on collections.
This letter should help retain customer goodwill as well as encourage prompt payment and maintain your cashflow.
When drafting a First Payment Reminder Letter, it is important to focus on a number of key clauses, in particular: