My biggest client's payment bounced right before rent was due

I was at my desk in Omaha checking my bank account online when I saw a $2,500 deposit from a regular client get reversed. It was a Friday, and my rent was due Monday. I immediately called the client, who apologized and said their own client had paid late, causing a cash flow issue. I sent a polite but firm email with my contract's late fee terms and offered a payment plan for half now, half next week. They agreed and sent $1,250 within the hour. Has anyone else had to chase a big payment that suddenly vanished?

4 comments

4 Comments

logan5612mo ago

Actually, a bounced check is different than a delay.

kai_webb912mo ago

Big payment vanished" sounds a bit dramatic for a one day delay.

davidkim2mo ago

Okay "dramatic" is fair, @kai_webb91. My rent check was staring at me, so one day felt like a year.

robertcarr2mo ago

My bank's 24 hour grace period saved me last month, just gotta call them right away.