Unpaid invoices are one of the biggest challenges that companies face. In order to claim that an overdue invoice is paid, there are certain mechanisms that allow companies to have support to be able to face debtors.
A past due invoice is one that is pending payment and its date has fallen outside the time range agreed between the client and the supplier to be settled. Past due invoices are also those that have not been paid and were issued in the previous year.
There are various mechanisms that can be used to claim an overdue invoice. Before making a legal claim, it is advisable to use less aggressive means, most of the non-payments are due to mistakes or oversights that can be solved with a simple call.
In the event that it has not been possible to solve the non-payment with a conversation with the client, the companies must notify in writing that the payment has not been made and that if it is not satisfied within a certain period, another series of measures. It is important that these written notifications be certified and with acknowledgment of receipt. If in this way it is not possible for the client to settle his debt, he will proceed to communicate by means of a burofax.
When the described procedures have already been carried out without receiving payment, it will be the turn to take more serious measures such as a legal claim. Collection companies as a resource to collect an overdue invoice
Before starting the order for payment procedure, it is possible to contact a collection company that takes charge of the debt collection.
A collection company is a company in charge of claiming defaults. The purpose of these types of companies is to demand that debtors make the payment of a debt that they have contracted with a creditor. It is an entity that mediates with the aim of getting defaulters to pay their debts before having to take legal action against clients.
The organizations dedicated to the recovery are completely legal and are based on the right that a company has to claim its debts. The only limitations that these types of entities have are those that are related to the honor and image of the debtor.
A payment procedure is a fast way to be able to claim debts of a monetary nature in which a hearing with a Judge will only be required in the event that the debtor refuses to pay the amount owed.
One of the issues that mainly characterizes the order for payment procedure is that the professional assistance of a lawyer and a solicitor is not necessary to be able to present the initial application, since it can simply be signed by the person concerned.
In a payment procedure it is only possible to claim monetary debts, this means that through this tool it is not possible to demand the delivery of an asset or the fulfillment of an obligation.
It is an essential condition that, to start a payment procedure, the debt must be overdue. It must be possible to claim because the period of time stipulated for it to have been paid has already passed, being already out of date.
In the event that the expired invoice has not been collected, but the VAT associated with its issuance has been paid, there is a mechanism to be able to recover the taxes paid without having to alter a company’s accounting.
The Tax Agency informs that, in order to request a VAT refund, the creditor must comply with a series of formalities:
