Hit $10,000 in unpaid invoices before I finally got serious about chasing payments

I let things slide for months thinking clients would pay eventually. Last quarter I added up all the overdue amounts and it came to $10,345. That was a gut punch. I started sending reminders every 3 days instead of waiting a week and got $4,000 cleared in the first 10 days. Anyone else have a number that made them change how they handle late payments?

3 comments

3 Comments

jamesc7912d ago

Bro $10k is basically the "oh crap" tuition fee we all pay at some point lol. Mine was 8 grand and I felt like a clown for letting it get that far.

troyc1712d ago

Damn $8k is rough. Were you dealing with a single big client who bailed or a bunch of smaller ones that just piled up over time? I gotta know what finally made you pull the trigger and chase it down.

thomasb4112d ago

Yeah I read somewhere that the longer an invoice goes unpaid the less likely you are to ever see that money. Something like after 90 days your chances drop to like 70% or something crazy lol. So basically waiting around just makes it worse. Getting that $4k back in 10 days proves the point too. It's wild how a little pushback changes everything with these people.