Buyer not paid!

Hiya.On the 9th of august i sold a ring for 99p and have not yet recieved payment, i have sent 2 invoices and a polite email and still have not yet recieved anything, their feedback score is 1 and 100%, please can someone tell me the best way to deal with this as i have read of other sellers getting neg feedback from people who have not paid?? and i dont want to ruin my 100% fb for the sake of 99p. Am i able to cancel the transaction after a certain period of time and re-list the ring or do i have to go though the whole dispute process.Thank you!!

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Orignal From: Buyer not paid!