Posted by OnTheDot_CO on 9/9/06 1:24pm
Msg #144736
Credit App - Slow or Non Pay Clients
Has anyone thought of having new clients fill out a credit app with you? If we could get their federal identification number, then we could report them to the credit bureau for late and non payment clients. We could also report them on 1099 C to the IRS for debt payment forgiveness if we never get our payments. This just might stop our non-payment issues and real late payments.
I don't known about you but it has seems several of my clients have gotten slow in paying lately including customers where I normally get paid quickly.
What is your opinions?
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Reply by LkArrowhd/CA on 9/9/06 1:33pm
Msg #144741
Re: Well Dot..................................
I have been able to collect on every cent ever owed to me from signing, to be perfectly honest. I have a pair of jewels that are relentless when it comes to collecting......I'm fair and I will go 110% for anyone but you better be nice.......AND AND THAT IS A BIG AND if your going to not pay me, don't even consider it I will be your worst nightmare and I certainly don't mean that in a threatening tone..........what's mine is mine and I don't care if it's just money I'm handing over to my kids to help them with this or that. I worked for it and it's mine and I want it......I don't work for free and while I can still work....I expect to be paid. Black and white and as simply and cut and dry as that..... So my methods of madness have worked for me.....you might consdiering growing a pair if you don't have them already.....pardon my classless sense of humor.
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Reply by Kristine Wyrick on 9/9/06 1:40pm
Msg #144745
I'm in the same situation. Many of my clients have also become slow pay. Almost
to the point that if I don't inquire about payment they take an additional 30 days.
How do you feel about calling SS when time frame is up and invoice is past due?
I tend to feel like I'm out line. But have realized that if I don't call it will take 60-90 days
for payment.
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Reply by LkArrowhd/CA on 9/9/06 1:51pm
Msg #144749
Re: Credit App - Slow or Non Pay Clients .......Kristine
I expect payment within or there about 30 days, I simply no longer accept work from those that can't pay timely, it's not worth the stress or having to monitor my invoices over and over again. You are not out of line at all by calling, this is your business and many of these companies have already been paid for the service you provided, it's a simple lack of respect for the notary and poor business management.......in my mind....
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Reply by cassiewi on 9/9/06 2:48pm
Msg #144765
I agree
Now I will call once 4 days have gone by to find out. It is sooooo not worth the hassle of having to call and hound companies. I'm done with that. I do need to make myself a list of companies and their schedules. I have made many lists this week while doing research and the like. I'll tell you, a wealth of information on this board. I think my husband misses me. 
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Reply by Roger Kennedy on 9/9/06 6:47pm
Msg #144833
Unfortunatly, a 1099-C cancellation of debt is only for financial institutions. I had mentioned it earlier while complaining about SOX, I did some research on the matter and we cannot file.
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Reply by OnTheDot_CO on 9/9/06 8:22pm
Msg #144863
Roger, that would be too bad if we could not file a 1099 C on them. There must be a better way even my good clients are now taking over 30 days. I guess we will just have to hound them until they cough up the money due. You know, they have our social security number or Federal Identification Number. I am going to ask my accounting friend about the 1099 C tomorrow.
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