The collections invoice is to be sent by a collections’ agency for any past due bill that is owed by a debtor. The invoice usually includes a letter that explains that the debt has been handed over and that if the payment is not made there will be changes on the debtor’s credit report. To the debtor’s benefit, the bill will commonly be discounted anywhere from 15% to 50% if payment is made immediately. Although, if the debtor agrees to a payment plan, they may be able to also obtain the same discounted rate as long as all payments are made on time.
Collections Letter – Often sent along with the invoice to explain the payment options of the debtor.
Past Due Invoice – Last invoice before a debt is sent to collections.
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