What is a letter of demand?

What is a letter of demand?

A Woods and Day Letter of Demand is a personalised document, drafted by our solicitors which we send to our client’s debtor to formally demand payment of an outstanding debt owed.

What are the benefits of sending a letter of demand?

Our Letter of Demand for outstanding payment is a useful first port of call for those wanting to prompt payment without going to the option of legal proceedings at the first instance.

As well as being a formal demand for payment of the debt; the letter serves as a final warning to the debtor that payment must be made in seven days and if ignored, legal action may be pursued.

One of the main benefits of our Letter of Demand is that it possesses the weight and gravity of formal legal proceedings at a fraction of the cost. At a fixed fee rate of $125 (ex. GST), recovery of any debt, no matter the size, is often made without any commission collected by Woods and Day Solicitors.

Why engage a lawyer to send a letter of demand as opposed to a traditional mercantile agent or doing it yourself

Quite simply, at Woods and Day Solicitor’s, debt recovery is our forte; and our service is cost-effective. Not only do we not collect any commission when we send our LOD (as many mercantile agents do), but the letter is drafted by one of our expert team with the finesse that your matter deserves.

Whilst you could “go it alone” and draft the letter yourself; the letterhead of a reputable law firm such as Woods and Day Solicitor’s has a far greater chance of capturing the attention of the debtor and making him or her aware that our client is serious about a payment being made immediately.

By using our service, we consider that you will be giving yourself the highest chance possible of recovering the money that is rightfully yours.

Alternatively, our team is available through Debt Appraisal service for any first-time clients looking to engage Woods and Day Solicitors.