Document background
The Late Fee Notice is a critical document in the debt collection process under English and Welsh law. It is typically issued when payment terms have been breached and serves to formally notify the debtor of the outstanding amount, including any late payment charges and statutory interest. This document should be used when initial payment deadlines have passed and informal reminders have been unsuccessful. The notice must comply with various regulations, including the Late Payment of Commercial Debts (Interest) Act 1998 and consumer protection legislation, ensuring transparency in fee calculations and fairness in collection practices.
