There’s nothing more uncomfortable and frustrating than chasing after money owed to you. And during these economically difficult times you can barely catch your breath as you run for your money. You’ve emailed, left phone messages, emailed again and left another message and then you begin to wonder if you’re beginning to annoy the client and maybe he/she is so annoyed, they’re not going to pay you.
There’s not much to do with a client who doesn’t respond via email or phone. A good client is one who pays on time. A decent client is one who calls back and lets you know when a payment will be made or initiates a call and lets you know that payment may be delayed. You can only respect this kind of person and wait. “Humility is a powerful tool,” pointed out a very successful businessman we know.
If the terms of your contract called for payment within 30 days, don’t start calling incessantly two weeks before the due date because by day 30, you will have pulled out a good amount of hair.
“I’ve been on both sides,” said a friend in television production. “When I hired people, I made sure they were paid. If a payroll company was involved, payment was guaranteed. When I’ve been owed money, I notice that sometimes people get weird. They seem to be annoyed that they owe you. Once, I had to threaten legal action. The client sent me a check immediately.”
No one who has rendered a service should feel wrong for wanting to get paid for it. You may wonder if you’re annoying them but what about you? Isn’t it annoying to be owed money that you can use?
Whatever you do, keep the emails and phone calls polite. If you think it may be time to take legal action, don’t make an empty threat. Seek legal advice and weigh if it’s going to be worth your while.
No doubt, these are hard times for everyone. We believe that for the most part, people’s intentions are honorable. Now, more than ever, patience is a virtue. Think about that before you put on your running shoes. And if you’re a client who owes money to someone who’s done a job for you, put yourself in his or her shoes.
Wednesday, October 28, 2009
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7 comments:
Good points presented. It is extremely frustrating to be hired for a job do it and have to chase someone down to get paid. This works for both business and money loaned to friends. I've lost a few friends who owe me money and I'm sure they feel guilty about not being able to pay it back. They rather not be in touch and a few have even picked a fight so they won't have to pay me back.
Of course, writing a blog post about it is a GREAT way of making your point to a deadbeat!!
Yvonne, this is so timely....isn't it always!?
This is crazy timely for me. I just sent out a "Pay Up!" letter last night to a gallery I otherwise love being represented by. What is wrong with people????
The same could be applied to lending and borrowing. The saying goes: "Never a lender or a borrower be". But tiding someone over a bad patch may make the difference between them sinking or swimming ... on the other hand, many a good friendship has been lost because embarassed borrowers can't pay back debts. It's a minefield.
boy I really really enjoy your blog...keep up the good work.
YO:
LUV'D IT--BUT YOU DIDN'T MENTION "BARTERING" AS A FORM OF PAYMENT.
YOU KNOW I LUV YOU LADIES!
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