Hey Rebecca,
We run into the same difficulty at times. Love the client but slow pay. If the can't pay the whole invoice, ask them to pay as much as they can every week or two weeks to start bringing that balance down, but keep current with any new invoices. We have put a client or two on credit hold, no more work down, until we receive a check. That also seems to work well. You could then in the future have them set up an escrow account with you, they will have to trust you with this. They keep a certain amount with you paid up front and when it gets down to a certain level they have to deposit more money or you don't complete anymore work.
At some point you do have to draw the line. The decision is entirely up to you on how long and how much you let the bill run up.
I just had a client that we loved to work for and paid like clock work suddenly get a month behind and then was placed into receivership and I'm stuck with a $6350 invoice. Ouch!!! Some things happen over time and some WHAM get you when you least expect it.
Jay
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