A Debt Collection letter may be the start of a formal process to recover debts from you. Ignoring them won’t make them go away.
If legal action is threatened, it may result in:
A Statement of Claim
A Statutory Demand
A Notice of Winding Up
Letters of demand are sent when a creditor has tried unsuccessfully to get an outstanding account paid. A Debt collection letter may be the first step towards more serious action such winding up proceedings.
A letter of Demand may be sent by a debt collector or a lawyer and should be acted upon.
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Debt collection efforts usually follow a series of steps. A first and then second reminder letter that may be written in such a way as to maintain a business relationship.
A demand letter, which should be entitled “Letter of Demand” should state exactly the amount outstanding, the invoice details, the fact that the amount is overdue and that it needs to be paid within a certain time frame.
The letter may also suggest or warn that unless the debt is paid by a particular date, legal recovery action may be commenced.
Sending a letter of demand can be a significant step as it may damage a business relationship and may inflame a dispute. This needs to be considered when taking steps to recover a debt.
Often a lawyer’s letter will attract the attention of a debtor more than a simple letter of demand from you .
Note: Consider sending the letter by registered post and requesting a ‘signed proof of delivery’ card.
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