How long before you can turn an overdue account to collections?

We're a small business, and we have an account that is 60+ days past due. Legally, how long do we have to wait before we are allowed to turn this account over to a collection agenct for payment? Knowledgeable answers only, please.
How long before you can turn an overdue account to collections?
Basically, you set that amount of time when you agree to do business with someone. If you state clearly at the beginning that you expect payment within a certain time, then they have to pay by then. It is best to state outright when you expect payment, and what you policy is regarding late payments and penalties(including collections). That way, you have a signed agreement between you and your customer as to the terms, and can act accordingly. If you don't have that agreement, you must notify them in writing that they have until a certain date to pay you, or you will send the account to collections(usually 10-30 days after they receive your final notice). I hope this helps. Remember- as a business, you set your own terms, and are responsible for making your customers aware of what they are. Good luck!!! JBM
Reply:I'd say that it is best to be as soon as possible since the longer you wait, the less you will receive from the collection agency. There might be state laws governing that. I believe it is very safe to send three letters letting a person know of the payment with the first two stating the payment and one stating about collections. Of course, if the person tells you not to contact them, you either have to write it off or to sue them to obtain a judgment.
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