In businesses, there are sometimes delay in payments. Preparing a Credit Reminder Form is the first step to recover money from people who owe you money. A Credit Reminder Form is an official document. It is used to remind debtors that the money they owe you is due and the payment due date is gone or is close at hand. A Credit Reminder Form is normally used by businesses to deal with creditors. It is sent in an effort to make a polite request to clear their account and to retain business relations with the creditor. This form has complete information of the customer and the amount of money they owe you. Preparing a Credit Reminder Form is useful to your business in that it helps you recover any money that is due to you and it may prevent delay in payment in the future.
A Credit Reminder Form is the best way to remind customers about late payment. It is not intrusive and is a formal and routine way to remind customers that they’ve missed the payment due date and to tell them what they need to do without being rude. Professionalism is the key to recover dues. The key facts that you may want to include in a Credit Reminder Form are the due balance, interest rate and/or late payment fee, the due date for payment, the invoice number or the reference number, the payment options, and the contact information of your company.
Overdue Payment Reminder Letter
A Credit Reminder Form should firstly have the name and address of both parties, right at the top. It should also have the account number of the customer, the invoice number of the item or services sold, the purchase order number, your invoice number, and the original due date for payment. All of this information is important for the customer to know what they need to pay for and when.
Below this information, add a formal declaration of the fact that it is a reminder for payment on the customer account number. Thank them for payments made. For payment not made, remind them to fill the Customer Response section of the Credit Reminder Form.
Credit Reminder Form Template Free
The Customer Response section of this form should include details like date, the balance forward, the finance charge, the late fee, and the total amount due. It should also include information about full or the partial payment amount made by the customer, the previous payment and the date it was made, and the check number. It should also have space allotted for customer comments. It should have space for the signature of the customer and the date the form is signed. Include to the name to which the checks should be made payable.
A Credit Reminder Form is essential for business that works with credit. Often, customers forget to make payments or forget the due date of payments to be made. In such cases, a Credit Reminder Form comes in handy. It is a professional way to let a creditor know that they need to make overdue payments.