Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
The Check's in the Mail…Honest
Whatever side of the invoicing process you find yourself on, Atradius Collections – which says it has heard just about every excuse when collecting amounts due from debtors of its customers – has not only put together a set of the most common excuses – it has also included a list of “can you believe it” lines.
Some of the classic or more common excuses for not paying invoices include:
- We haven’t received the invoice
- Our terms are (30, 60) days
- We don’t have a payment run until next month
- There are no check signatories available
- The check is in the mail/the invoice has already been paid
- The goods were never delivered or the order was cancelled
- The goods/services were faulty or not as described
- The balance is incorrect and we are awaiting a credit note
- The goods have not been sold/the buyer has not paid for the goods yet — need sale proceeds to be able to pay
- The debtor is insolvent.
Unusual Excuses
Atradius – a firm that provides trade credit insurance, surety and collections services worldwide, and has a presence in 40 countries – says that, although it happens rarely, “some debtors still manage to surprise even us.” Some of the more unusual – but actual – excuses:
- It’s not a valid debt as my vindictive ex-wife ran off with the company credit card
- I just got back from my luxury holiday, it cost more than I thought so I no longer have the funds to pay
- I wanted to pay but all the invoices were in my briefcase, which was stolen on the street
- My wife has been kidnapped, and I need the money to get her back.