Is your organisation owed outstanding and unpaid invoices and you are now looking to create a letter threatening legal action to this commercial client or consumer in the UK?
The team at Oakwood Solicitors are dedicated in providing organisations across the UK with advice and assistance about recouping outstanding invoices and they will be able to use their wealth of knowledge to help you create a letter threatening legal action to this particular organisation or individual in the UK.
Selecting the most appropriate letter for your business
You may not realise it but there are various different letters that you are able to draft to recoup outstanding debt depending on the individual circumstances.
Our team will be able to arrange with you a no obligation consultation to discuss your requirements and we will then be able to provide you with advice on the best most appropriate methods of recouping outstanding debt on your behalf.
Listed below are the two letters that you may be able to send and where these may be effective.
The Late Payment Demand:
These letters are legally allowed to be issued if you have exchanged in a business to business relationship and another organisation has purchased a product or service from you for business purposes.
If this debt is overdue by just one single day then your organisation is able to charge interest at 8% above the base rate set by the Bank of England (providing there is no agreement already in place mentioning interest) and you can also charge compensation depending on the size of the debt.
This can be an extremely effective way of recouping outstanding debt as it places enormous pressure on the organisation as every single day they fail to pay the amount that they owe increases. Our team would however only recommend this method if your organisation did not need to maintain a working relationship with the client in the future as these demands can dramatically affect working relationships.
If my business is not able to use the above method to recoup unpaid invoices; what other letter am I able to create in the UK?
If you do not meet the requirements for a Late Payment Demand or if the debtor is a consumer or individual then our team will be able to help you create a ‘Letter Before Action’.
This particular letter gives the individual or organisation a certain amount of time to pay the outstanding debt and it can be an extremely effective way of recouping outstanding funds as organisations or individuals that receive these types of letters are much more likely to pay as they fear facing legal action later down the line.
Our team are so successful in recouping outstanding debts using various different methods that we are known across the UK for our skills in this field.
We were recently contacted by a commercial business that needed advice in regards to recovering £1824.28 from Mr J who was from London and our team will have discussed the various different options available to this client.
WHAT TO DO NEXT
If your organisation is owed outstanding or unpaid invoices and you are looking for a solicitors firm who can help you draft a letter to help you recoup this amount then you can contact the team at Oakwood Solicitors who will gladly assist your business in the UK today on: 0113 200 9720.
