Letters of Demand – for own account
These Letters of Demand may be used where a debt is owed to you by a debtor, and has not yet been repaid. A Letter of Demand calls on the debtor to pay the debt, failing which further action will be taken.
LETTERS OF DEMAND
(For own account)
Summary These Letters of Demand may be used where a debt is owed to you by a debtor, and has not yet been repaid. A Letter of Demand calls on the debtor to pay the debt, failing which further action will be taken.
Why do I need a Letter of Demand? A Letter of Demand reminds a debtor of the amount that is due for payment, and gives the debtor a deadline for the payment. We have included two letters of demand in this pack. A first letter of demand acknowledges that payment may have been made, in which case this letter can be ignored. Ie. The wording of the First Letter of Demand is more lenient than the Final Letter of Demand. The wording of the Final Letter of Demand is in harsher tones than the First Letter of Demand, and warns the debtor of the legal consequences of ignoring the demand.
Who should use a Demand Letter? If you or your business have debtors that owe money, these Letters of Demand may be used to call on the debtor to pay the amounts owed.
What does the Letter of Demand say? Each Letter of Demand: Confirms the amount that is due; Gives the debtor a deadline in which to pay; Provides for the insertion of bank details into which the debt can be paid; Generally cautions the debtor should the debt not be paid.
What does the Letter of Demand look like? Each demand letter can be printed onto one page.
What do you need to do to use the Letter of Demand?
- Read the document to ensure that it suits your requirements. Make changes as required.
- Complete the relevant details, and send the First Letter of Demand to the debtor.
- Should the debtor fail to make payment, send the Final Letter of Demand. (The Final Letter of Demand can be used on its own, without the First Letter of Demand having been sent, if circumstances warrant it.)
Also viewed: Acknowledgement of Debt
Also known as: Demand Letter; Final Notice
The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.