Better Payment Practice Group helps small businesses “Collect the Cash” through series of debt collection letters

The Better Payment Practice Group (BPPG) has launched a new, free service on their internet site, www.payontime.co.uk, to help small businesses get to grips with credit management.

Due to demand from small businesses, the Group has published a series of debt collection letters on the site which can be used when issuing bills and reminders to debtors.

The letters demonstrate the complete collection process from issuing the initial invoice through to issuing the final demand. The suite of seven letters includes:
Initial invoice;

• Letter agreeing payment by instalments;

• Letter informing a debtor that statutory interest will be charged;

• Letter informing a debtor that contractual interest will be charged;

• Two general reminder letters;

• Final reminder letter.

To view the letters, click here

This initiative is the latest element of the “Collect the Cash” campaign, a year-long credit management education programme, launched on 1st November 2000.

Peter Rowe Director General of the Institute of Credit Management and member of the Better Payment Practice Group comments: “During our recent seminar programme it became clear that many small businesses didn’t know what information should be included on their debt collection letters. These standardised letters will help small businesses chase their debts more efficiently and provide them with a much better chance of getting paid on time”.

You can keep up to date with the Better Payment Practice Campaign by sending us an email