Collection Stages for Credit Purchase

The first notification the buyer receives after purchasing goods on credit is a statement or invoice showing the amount owed.

The notification usually lists the transactions for the time period involved and states the terms and date of payment.

If the buyer does not pay by the due date, you begin to send a series of messages called a collection series. Though the length, content, and collection methods of a collection series may vary according to the circumstances, a well-planned series usuallly has 3 stages.

1. 1st Stage - Reminder.
2. 2nd Stage - Discussion.
3. 3rd Stage - Urgency.

Regardless of the stage in the collection process, all collection messages should make clear 2 facts and they are strictly:

1. the amount due.
2. the account number.

As we journey into the e-buying, we are more prudent in purchases made and the sellers too are taking less risks in their sales.

The e-buying happens through online shopping. With e-buying, the buying creditability of the buyers are rated by the finance houses and buyers affordability is managed by professional money people. This action produce prudent buyers. Meanwhile, the sellers of goods online are able to market their goods at cheaper prices with the elimination of the costs involved in the collection series of credit purchases.

e-buying will be good.