Debt Recovery Templates
Our range of Solicitor drafted debt collection letters and templates enable you to deal with your own debt recovery matters.
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 may be needed when running a business. Our documents include both letters and templates for businesses looking to pursue overdue debts and also for debtors themselves who are unable to make payments in full. Our templates all come with free guides to ensure that you understand any relevant legal considerations and issues and to enable you to easily customise the templates to your requirements.
Cost Effective Debt Collection
Having strong debt collection and control procedures is essential to protect a business' cash flow and enable it to continue trading. It is not unreasonable to insist on prompt payment for goods and services received and to take legal action when this does not happen.
Exactly when you decide to send out debt recovery documents will be up to you and your terms and conditions of business and invoicing. In most businesses an invoice must be paid on a certain date, such as a month from the time the invoice is issued. If this arrangement is npt complied with then you are entitled 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 aspect of debt recovery. The N1 form is the most used form in debt recovery. This document allows you to apply to the county court in order to recover 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 requesting payment. These letters must provide details of the invoices that are unpaid and explain that you will seek a county court arrangement if the money is not paid to you by a certain date. There are debt collection letter templates to use here as well. The letters contain everything you need to say to a debtor before submitting the N1 form.
For further information regarding business debts and personal finance, please see our Personla Documents on on Debt Solutions and our Business Guides such as "Settling Business Debts After Ceasing To Trade".
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