![]() ![]() ![]() If both parties agree on the settlement date, the debtor should be able to provide a settlement agreement that releases them from any claims that may arise.In addition, the demand for payment letters should not be ignored. If the debtor is actually planning to pay the amount owed, you can attach a promissory note to the explanation letter. Once the receiver has verified the claim, he/she needs to acknowledge the demand for payment letter, but you should submit an explanation letter first explaining the valid reason why you did not make payment on those specific dates. ![]() A receiver who receives a demand for payment should be aware if he/she needs professional assistance to help him/her understand, comply with the demand, and respond appropriately.The second late payment letter template for a non-paying customer has optional text which allows you to add in. Use our late payment compensation calculator to calculate the amount. You have a statutory right to add interest and compensation to the debt you area owed by a commercial company. However, the receiver should be able to verify the validity of the claim. Late Payment Letter Template 2: Second Chasing Letter. It is important to note that some requests for payment letters, especially those with high-valued numbers, are fake or scams. In order for the receiver to be in the right headspace to think about the next step, which is to discern, he/she needs to calm down and discern first when they receive a demand letter for payment.It will continue on for days or weeks but should not be ignored. We would like you to resolve this matter which is why we are providing you options to pay for your outstanding balance in another payment schedule, in installments, or in full payment see below the schedule for your reference:ĭebtors usually feel anxious when they receive a demand for a payment letter. Upon receiving this demand for payment letter, you are obligated to respond and acknowledge it within 24-48 hours, as this letter may be presented in court as evidence if you fail to pay again. To avoid any further expenses and a court appearance, we strongly recommend that you take advantage of this opportunity to pay your outstanding balance along with all current charges. We would like to draw your attention as we will be formally requesting our legal department for collection procedures, and we will be more than willing to pursue the amount due by you along with all the charges incurred, including legal fees, late payment fees, and interest charges, until the said amount is paid in full. The payment has been outstanding for (number of days from the due date). We are writing this letter to inform you that a payment amounting to (amount in figures) in (currency) has been pending on your end up to this writing we are waiting for you to settle as we have not received any payment from your end since your due date last (due date: day – month – year) so that a daily unpaid balance must be charged a late payment fee of (percentage the creditor wants to charge for unpaid balance). ![]()
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