How long to get paid?

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tufts46argled

Member
Location
Jackson, Ms.
Got to say I've been in your position and needed to get paid from a friend/client, had to just suck it up and call and tell him I needed to get paid. Not a lot of fun but got my money!
 
Cavie

Cavie

Senior Member
Location
SW Florida
jsmalone1 said:
I've been doing this for only 4 years and I too have never been stiffed. But I hate "never" and "always"--I know this is part of running a business and I find it so interesting that the customers I actually worried about paid with no issue--the one I had no preconceived concerns with is becoming an issue. But that's the story of life. Is 90 days a break point as far as payment/collection??
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Your invoices should have an intrest statement to the effect of a minimum of 1.5% added the the bill for every 30 days late. Send new invoice in 60 days with the intrest added. File paper for small claims court at 90 days. It's cheap. It is more effective than NOT's and leins.
 
S

satcom

Senior Member
Our area vendors will send any outstanding payments due over 60 days to collection, if your a small shop you need terms that will keep your business alive like cash or net 10 days
 
B

bmwnut

Member
Location
O-H-I-O
He is a very close acquaintance

Well if you can't screw your freinds who ya gona screw????
Second lesson freinds and work don't mix well!!
 
W

WinZip

Senior Member
I would call this so called friend an tell him you want to speak to the person that signs there name on the front of the check not on the back of the check,sounds like the friend might not be the friend you thought he once was.
 
MarkyMarkNC

MarkyMarkNC

Senior Member
Location
Raleigh NC
electricblue said:
I bug the crap out of people that have not paid in thirty days. One time I had to take out a lien, even when I had no lien rights. It worked. (90 days)
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I do the same thing. I bug the ever-living crap out of people that owe me money. I don't get upset or angry, and maintain a friendly, tone, but I persistently call and try to get them to commit to a pay date.

Dealing with people owing me money was probably one of the hardest things for me to learn when I first went into business.
 
J

jsmalone1

Member
Location
southwest Missouri
MarkyMarkNC said:
I do the same thing. I bug the ever-living crap out of people that owe me money. I don't get upset or angry, and maintain a friendly, tone, but I persistently call and try to get them to commit to a pay date.

Dealing with people owing me money was probably one of the hardest things for me to learn when I first went into business.
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I'm learning that doing the work is pretty easy and straightforward. The money is not so easy for me except that I will persist--Thanks again for all the help
 
I

IamJonscranium

Member
Location
Ohio
growler said:
When does you contract call for getting paid? The time to think about payment is before you start the job and not after it's finished.

If it's a local business then I'm going to set up a schedule of payment during the job and final upon completion with very little time for payment. I don't like to leave a lot for the final payment anyway.

It really gets back to whatever was stated in the contract. How much time did you allow for the final payment?
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This is a good answer. The jobs I've been on have payment schedules. That way (if it's a big job anyhow) if they don't pay, you stop working. You don't want the ball completely in their court.

The city I live in is doing this to a contractor right now. $1.5M job. Owe a couple 100 thousand and are about 60-90 days out. It's a good way to put a contractor out of business, when they can't make payroll.


Next time get a contract. When it comes to money, treat friends, aquaintances, and enemies the same.
 
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