5 common excuses for late payments (and how to respond to them) (2024)

FAQs

5 common excuses for late payments (and how to respond to them)? ›

Dear [Contact Name], I would like to apologize regarding the delayed payment for invoice [Insert Invoice Number]. We experienced a [payment processing error, administrative issue, etc.] that resulted in a delay in processing this payment.

Dear [Contact Name], I would like to apologize regarding the delayed payment for invoice [Insert Invoice Number]. We experienced a [payment processing error, administrative issue, etc.] that resulted in a delay in processing this payment.

Keep it short and sweet. You might consider writing a goodwill letter if you missed one or more payments due to a medical emergency, a divorce, job loss, or a natural disaster. An issue with mail delivery due to a move could be another valid reason to write a goodwill letter.

What Are Acceptable Reasons for Late Payments on Credit Report? Acceptable reasons for late payments on a credit report typically include extenuating circ*mstances that are beyond the individual's control, such as serious illness, sudden job loss, or natural disasters.

Our records show that we haven't received payment for Invoice #123. This is overdue by one week. If you have already sent the payment, please disregard this notice. For any clarity or questions, please don't hesitate to reach out to us.

Responding to a late payment email involves addressing the issue promptly and professionally. Start by apologizing for the delay and acknowledging any inconvenience caused. Be transparent about the reasons for the late payment, without oversharing personal details.

A goodwill letter is a formal letter sent to a creditor, lender or collection agency to request forgiveness for a late payment or other negative item on your credit report. In the letter, you typically: Explain the circ*mstances that led to the late payment or issue.

I am sincerely sorry for the delay in payment on {loan type}. I apologize for any inconvenience or frustration this caused you. The delay was caused by {reason}. While I take full responsibility for my mistake, I would like to assure you that this was a one-time error on my part.

Provide a clear explanation: Your letter should acknowledge and indicate why something happened. If, for instance, you fell behind on loan payments in the past or were out of work for a significant period of time, explain the extenuating circ*mstances.

The process is easy: simply write a letter to your creditor explaining why you paid late. Ask them to forgive the late payment and assure them it won't happen again. If they do agree to forgive the late payment, your creditor should adjust your credit report accordingly.

How to dispute late payments? ›

Section 609 gives consumers the right to request information related to debts listed on their credit reports. Examples of information that you may want to dispute include: Accounts opened due to identity theft. Late payments that were paid on time.

What's on your credit reports is important because that's the data used in calculating your credit scores. Since payment history is the biggest element in what makes up your credit scores, going 30 days or more past due can really hurt.

The payment was due on [Due Date]. We're not aware of any outstanding issues or reasons for non-payment, so we would like to respectfully ask you to make payment as soon as possible. Please let us know when we can expect to receive payment for this invoice. If you have any queries, don't hesitate to let us know.

I wish to reassure you that we are committed to making this payment as soon as the funds are available. If all goes well, we are hoping to have done this by the end of the week. I kindly request you to bear with us and please receive more apologies for the delay.

If a payment is late, don't wait to follow up. Send a quick email, or make a friendly call to find out why payment is delayed. Customers will pay the company demanding payment before they'll pay companies that do nothing. Find out why your customer can't pay on time, and find a solution beneficial to both of you.

Craft a polite email or phone call reminding your client about the outstanding invoice. Be sure to include clear details like the invoice number. Make it easy for them to settle the bill by mentioning your available payment methods, such as online portals, mail-in checks, or credit card payments via a phone call.