The following letter is sent to installment buyers, following the mailing of regular notices of payments due. This is a typical letter.
We have not received any response to our recent notices for the payment that has matured on your contract and are wondering what the trouble may be. Of course, you would not delay your payments without a very good reason, but in the absence of any explanation we are naturally puzzled. A frank explanation of your position will doubtless avoid a misunderstanding.
When we accepted your contract, we assumed that its terms were entirely satisfactory to you and that you entered into the agreement with the expectation of meeting each payment promptly at maturity. You will surely agree that this is a reasonable assumption and that it is equally reasonable for us to expect an explanation when anything occurs to prevent your paying on this basis. It is only fair to yourself to inform us and leave no room for any question concerning your good faith. We are not hasty to draw conclusions, but we are human and you should not leave too much to our imagination.
It is not our desire to annoy you about these payments or to write insisting letters to get you to fulfill your agreement. This should not be necessary. It would be much easier for you to pay one installment at a time than to allow several to accumulate; and if you pay according to agreement, we can handle the account in our regular routine. It is, therefore, to our mutual advantage to have these payments made regularly and promptly.
Kindly write us by return mail or send a check for $10 to cover the overdue installment.
Very truly yours,
A letter such as this, while lengthy and quite stern in tone, can be used to splendid advantage in handling installment collections. In such cases, strenuous efforts must be taken at once, for collection difficulties multiply when overdue payments pile up.
But in every instance, individual conditions must, to a great extent, control the substance and tone of the collection letter. There can be no hard and fast, arbitrary rules that can be followed under any and all circumstances.
As in all other lines of endeavor, success in collections depends upon the skill with which known principles and standard modes of procedure are adapted to the particular case up for attention.
Collection Letter :
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