Debt Recovery Templates

Deal with your own debt recovery matters with our range of Solicitor drafted debt collection letters and templates.

Debt Recovery

	Late Payment Chaser Letter A late payment chaser letter for use after an initial debt reminder letter has been sent.	£2.95 Read more »
	Debt Reminder Letter Our late debt payment reminder letter should be sent as a first reminder that payment of the debt is late.	£2.95 Read more »
	Debt Recovery Letter Use this debt recovery letter template for sending as a final demand for payment of the debt before issuing court proceedings.	£2.95 Read more »
	Debt Settlement Letter Our Debt Settlement Letter can be used by a business or an individual to make an offer to settle an outstanding debt.	£2.95 Read more »

Debt Recovery Letters and Templates

Our range of debt recovery letters and other debt collection related templates means that as a small or medium sized business you can take control of your own debt collection without the need to engage a solicitor and incur expensive legal fees. We include all of the template letters and documents that might be needed when running a business. We include both letters and templates for businesses looking to pursue overdue debts and also for businesses or individuals who are themselves a debtor but are unable to make full payment at once. Our templates all come with free guides to ensure that you understand any relevant legal considerations and issues and to make customising the templates to your requirements easy and fast.

Debt Collection Kept Cost Effective

Owning a business can be exciting, but sometimes there are difficulties in running the business. One of the unpleasant aspects for most people is implementing strong credit control and debt recovery and collection procedures. Not many people like to nag and chase but strong debt control procedures will preserve your business's cash flow.

The work we do we want to be paid for. It’s not an unreasonable consideration that we expect prompt payment in a business on invoices when we have delivered the product. Survival in a business can only be attained when we have the money owed to us. When payment is late and there are debts to recover you will need some type of legal document.

When you decide to send out the debt recovery documents will be up to you and your business. It will also depend on the terms and conditions of your invoicing agreement. In most businesses an invoice must be paid on a certain date, such as a month from the time the invoice has been received. You and the other person will determine the arrangement. If the arrangement has been broken you are then able to send out debt recovery documents.

Legal forms regarding debt recovery on our site include:

• Form N1- Claim for Debt Recovery
• Acknowledgement of Debt
• Guarantee for the Payment of Debt
• Assignment of Debt and Notice
• Power of Attorney to Collect Debt
• Limited Sum Documents
• Security Advance Documents
• Performance of a Contract

Each of these documents is for a different avenue regarding debt recovery. The N1 is the most used form in debt recovery. The document allows you to apply to the county court in order to recover the money that is owed to you. However, before you are able to submit the N1 form you must have sent out two letters to the company owing you the money. These letters must stipulate what invoices are unpaid and that you will seek a county court arrangement if the money is not paid to you. There are debt collection letter templates to use here as well. The letters outline everything you need to say to the debtor before applying for the N1 form.

Acknowledgement of Debt forms is very helpful in a business situation. When a person owes you money there is a statue of limitations on how long you can recover that debt. A debt becomes unenforceable after 6 years (5 years in Scotland). By signing a debt acknowledgment form the person owing the money states that they owe you, the collector. This helps make it easier for you to regain your losses after the 6 year period is over. It can also make disputes easier to handle. For example if you are ready to submit an N1 because you have already tried two letters and the acknowledgement of debt you have more paperwork to give to the court.

Legal documents are very helpful in providing documentation of agreements you have between two people. The debt recovery documents are a narrow focused style of document to help you get the money you are owed. These various forms will be available on this site when you need them in your business.