Question

Date charge payment balance notes 1/31 $75 $0 $75 monthly fee 2/15 $6 $75 $6 payment; 2 movies purchased 2/28 $100 $0 $106 monthly fee, repair fee 3/31 $87 $0 $193 monthly fee; 4 movies purchased 4/30 $75 $0 $268 monthly fee; account suspended if you called him on may 15th to ask him to pay his outstanding balance and he refuses to pay, what would you do?

Answer 1

One should try to the maximum extent to get something in writing from the customer, If it is a written communication, then there are two ways to deal with such a situation, If the customer refuses to pay the outstanding amount this event would be either verbal or written communication and If it is a verbal communication, then care should be taken to send a few reminder letters in a polite manner indicating the amount due from the customer.

Here`s my computation:
outstanding balance = $21,772.00 interest = 6.8 %
$21,772 x .068 = $1480.496$21,772 + $1480.496 = $23,252.496
$23,252.496 / 48 = $484.427
meaning you have to pay $484.427 monthly for 4 years