A charge-back is a credit card payment reversal from a retailer to the credit card company. Charge-backs typically occur when an item is returned, or a fraudulent or disputed transaction occurs.
But what happens when the business believes they are owed the funds for the good or service (i.e. not returned and not fraudulent)?
How to collect payment after a charge-back.
· Essentially, you are resolving the lack of payment since the original form (credit card) was cancelled.
· If proof of debt can be given (invoice, signed receipt, or any other agreement), the un-paid debt can be collected. Reaching out to the consumer/client to show proof of debt and the need for payment is your first step.
· If proof of debt is discoverable but the debtor will not resolve the payment, escalation may be needed.
Learn more about steps you can take at How do I get past due customers to pay their debt? (beyondgreensolutions.com).