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 When is a payment late?		  New Topic  Reply to Topic
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Lisa T.

California
391 Posts
Posted - 12/17/2009 :  8:05:26 PM  Show Profile  Visit Lisa T.'s Homepage  Reply with Quote
I usually will inquire about their payment policy. I will send an email inquiry (or call) on day 31 and again on day 46. I begin collections (certified demand letter) on day 61 and agressively go after the outstanding balance. I only had to do that once. Now I'm very careful with the companies I do business with.
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avivaj14

Pennsylvania
27 Posts
Posted - 12/17/2009 :  4:26:17 PM  Show Profile  Reply with Quote
Thank you for your thoughts. for this example, it is my first time with this company and I did not think to ask them what their payment policy is. Most seem to have it spelled out in the confirmation, although some don't (the ones we end up chasing).
I will keep you updated.
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crtowles

California
553 Posts
Posted - 12/16/2009 :  5:09:06 PM  Show Profile  Reply with Quote
For me I start at the 30 day period. You definitely have to stay on top of this. I always ask them when I accept the job when I will be paid. And then if I don't get the check within the time specified then I start the collection process.

http://www.123notary.com/howto-get-paid-signing-agent.htm

Good Luck!

Carmen
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Lisa T.

California
391 Posts
Posted - 12/16/2009 :  5:03:16 PM  Show Profile  Visit Lisa T.'s Homepage  Reply with Quote
Payment is late when it is one day past the agreed upon time frame. What was your agreement with the company you worked with? For example: If the confirmation says "payment net 45" then the company can take up to 45 days to pay you and payment would be considered late on the 46th day and thereafter.
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avivaj14

Pennsylvania
27 Posts
Posted - 12/16/2009 :  12:45:39 PM  Show Profile  Reply with Quote
With all of the talk of companies late or slow to pay, it has gotten me thinking, at what point is a payment considered to be late? How does everybody figure late or slow pays? Do you start from the date of the signing? Is it 15 days, 30 days? sometime into the month following the actual signing? Case in point, I have a company who I did my first job for tem on November 4 and they have not paid yet. They are saying that they have not been paid yet (I know bad sign), but I am wondering when I should consider them truly late.
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