Letter of Demand (Debt)
Legal Guide -
What is a letter of demand (debt) and do you need one?
A letter of demand (debt) is a formal letter formally request recovery of an outstanding debt.
You should always have a letter of demand (debt) if:
- You have made previous attempts to recover a debt;
- A person or business has failed to response to your previous requests for payment;
- You would like to formally request payment for the outstanding debt;
- You are preparing to take legal action over the outstanding amount.
Other name for letter of demand (debt) letter:
- Demand for payment;
- Debt recovery;
- Debt collection letter.
What does the letter of demand (debt) cover?
- Amount of the outstanding debt owed;
- Date the debt was due;
- Description of what the debt is owed for;
- Demand for payment over the owed debt.
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