Date: [Today's Date]
FAO - Purchase Ledger Dept.
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Seven Day Letter
Immediate Action Required
[Your Telephone No.]
[Your Ref No.]
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Dear Sir/Madam
We have been instructed by [Your Company Name] to issue this letter as a final notice before action due to the fact that your company currently has an outstanding balance of £[Amount Owed Including Interest & Compensation] which dates back as far as [Date of Oldest Invoice]. This balance comprises of:
| Overdue Invoices: | £[Amount Owed] |
| Interest: | £[Interest] |
| Late Payment Compensation: | £[Late Payment Compensation] |
If payment in full is not received by our client within seven days from the date of this letter, the account may be passed to a third party and legal proceedings may be commenced without further notice.
Please take a few moments to consider carefully the implications of litigation:-
- Interest will continue to accrue.
- Court fees will be incurred.
- Solicitors’ costs will be incurred.
- A court judgment will be recorded with the Registry Trust and the major credit reference agencies. This may make it difficult for you to obtain credit or open bank accounts in the future.
- If the court judgment were to remain unsatisfied a Bailiff or High Court Enforcement Officer (Sheriff) could be instructed to visit your home address, trading address or any other premises owned or leased by you to collect the outstanding monies or goods to the value of the debt. Additional court fees would be incurred at this stage.
- If the court judgment were to remain unsatisfied other methods of enforcement could be used and additional court fees would be incurred.
Please make your cheque payable to [Your Company Name], as usual. Payments should be sent to:
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[Your Company Name]
[Address]
[Address]
[Address]
[Address]
Yours faithfully
Alex Smith
Pre Litigation Department
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Interest and compensation may be claimed under The Late Payment of Commercial Debts (Interest) Act 1998 or under the terms of our client’s contract.
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