The final warning ...
A Letter of Claim is a formal letter to your debtor requesting payment of the debt to be made within a set deadline.
Letter of Claim
A Letter of Claim LoC is a formal letter to your debtor requesting payment of the debt to be made within a set deadline. It is effectively the final warning before legal action is commenced and in many cases this will be enough to prompt the debtor to pay. Alternatively it may be the first step towards negotiations in cases where there is a dispute or revive negotiations that have previously failed.
To send a LoC we will require the following information from you:-
- Debtors name
- Debtors address
- Type of business sole trader, partnership, company
- Amount of debt
- Due dates of the invoices
- Deadline for payment
We use this information to calculate your entitlement to interest and compensation for late payment under statutory law and add this to your overall debt.
You can decide upon how you want to handle the debtor at this point under the following options:
- We request that the debtor contacts you regarding payment
- You conduct negotiations
- If you are unable to recover the debt, we can advise you of the next stage
- You remain in control but have the backing of the solicitors letter
- We request that the debtor contacts us regarding payment
- We conduct negotiations with your instructions
- We revert back to you once we have secured an agreement for the debt to be paid
- Be assured that we are doing everything to recover your cash and that the debtor knows you take business relationships seriously and expect them to do likewise.
If the debt is not paid by the time stipulated, then the next stage will be to issue court proceedings. If you have already sent a letter similar to an LoC yourself then you can move straight onto the court stage however you may feel that an official LoC from a solicitor will show the debtor the seriousness of the situation.
If you are owed money by debtors and need help in claiming the money that is rightfully yours, then give us a call on 01604 828282, fill out our online contact form or visit our downloads section by clicking here to fill out an instruction form. Our experienced Debt Recovery team are here to help.
- Disputed Claims
- Letter of Claim
- Witness Evidence
- Court Tracks
- Disclosure of Evidence
- Service of Claim on the Debtor
- Directions Questionnaire
- Obtaining Information from Debtors
- Execution against Goods
- Entering Judgment
- Third Party Debt Order
- Attachment of Earnings
- Charging Order
- Winding Up
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