You Get Paid!
The borrower is your customer, you are the business owner. You are providing your customer with a service, you decide which forms of payment you will accept: personal check, cashiers check, money order, credit card through Paypal and etc.
It is your responsibility to inform your customer which forms of payment you are able to accept.
Build your customer relationship, always follow-up with your customer. This is a professional courtesy to the borrower, it informs them of your progress and reminds them that you were valuable to them throughout the entire process. If a borrower refuses to pay we recommend the following:
Send a copy of the Authorization Agreement certified mail, signature required, with a letter reminding the borrower the contract is legal and binding that you are aware that the check has been released. State in the letter that per the contact they have five days to send the agreed fee or the matter will be referred to small claims court where upon the borrower will also be liable for the court costs.
We have added several reminder letters that you can print from the Archived List screen to help you in your collection efforts. Remember to send all "reminder" correspondence certified, this step will help you win your court case if it comes to that.