Various Debt Recovery Letters

I’ve prepared some letters to help you along your debt recovery journey.  Now is a good time to remind you that I am not a solicitor, nor am I offering any free legal advice.  I am just a mate trying to help another mate out, and save them loads of cash along the way.

Polite 7-day Reminder

Here we want to be friendly, and not burn any bridges, but they need a little reminder that you are prepared to take it further with debt recovery action.  It’s better to use debt collection for the moment, as in my opinion, court action should be a last resort.  Only solicitors benefit from this, especially if the debt is over £10,000.  From experience, all a solicitor does is get their hands in your pockets.  Whether you are defending a claim, or taking action on someone.

Remember to add or delete parts of the letter with your details.  Especially where I have put ‘I/we’, because we’ll look silly if you don’t, and the debtor probably won’t take you seriously.

Your Name
Your Company Name
Your Address
Your Address
Your Address
Your Address
Your email address

Debtor’s Name
Debtor’s Business Name (if applicable)
Debtor’s Address
Debtor’s Address
Debtor’s Address
Debtor’s Address

Served by email to debtor@domain.com??????? And by post

Date: ?????
Ref: ??????

Re: Overdue Payment

Dear ????????,

I/we would like to remind you that your payment of £???????, is now overdue.  I/we appreciate that you may have been busy or simply forgotten, but I/we really need to see the payment within the week.

I/we would appreciate immediate confirmation that payment has now been paid – or is about to be paid.

The bank details for payment are below:

Account Name: ?????
Sort Code: ?????
Account Number: ?????
Ref: ?????

If I/we do not receive payment within a week, I/we may have to consider further debt recovery action, which will likely incur costs and interest at 8% above Bank of England base rate.

Yours faithfully
Your name ???????
Your company name????????