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Late Payment Collection Letter

Late Payment Collection Letter Template for England and Wales

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Key Requirements PROMPT example:

Late Payment Collection Letter

"I need a Late Payment Collection Letter for my software company to recover £15,000 from a corporate client who has missed three consecutive monthly payments, and I want to include statutory interest calculations and a warning about potential legal proceedings if not paid by March 2025."

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The Late Payment Collection Letter is a crucial tool in the debt recovery process under English and Welsh law. It is typically used when standard invoicing and reminder processes have failed to secure payment. The letter should clearly state the amount owed, reference original invoices, detail any applicable interest under the Late Payment of Commercial Debts (Interest) Act 1998, and specify a deadline for payment. It often serves as the final step before legal proceedings and must balance firmness with professionalism while maintaining compliance with regulatory requirements.
Suggested Sections

1. Recipient Details: Full name and address of the debtor

2. Reference Information: Invoice numbers, dates, and account references

3. Debt Details: Original amount, current balance, and payment history

4. Payment Demand: Clear statement of amount due and payment deadline

5. Consequences: Statement of next steps if payment isn't received

Optional Sections

1. Interest Calculation: Breakdown of statutory interest applied, used when claiming interest

2. Payment Plan Option: Offered when willing to accept installment payments

3. Previous Communications: Reference to prior contact, used in follow-up letters

Suggested Schedules

1. Copy of Original Invoice: Proof of original debt

2. Statement of Account: Detailed breakdown of transactions and balance

3. Payment Instructions: Banking details and payment methods accepted

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Late Payment of Commercial Debts (Interest) Act 1998: Primary legislation governing late commercial payments in England and Wales. Establishes statutory rights to claim interest (Bank of England base rate plus 8%) and defines when payments become 'late'

Late Payment of Commercial Debts Regulations 2013: Implements EU Directive 2011/7/EU into UK law, setting maximum payment terms and establishing rights to compensation for recovery costs

Limitation Act 1980: Sets statutory time limits for bringing claims, with a 6-year limitation period for simple contracts. Essential for determining if debt is still legally collectible

Financial Services and Markets Act 2000: Regulates debt collection activities and ensures compliance with financial services regulations in the UK

Consumer Credit Act 1974: Governs consumer credit and debt collection from individuals, providing specific protections for consumer debtors

General Data Protection Regulation (GDPR) and Data Protection Act 2018: Establishes requirements for handling personal data and privacy considerations in debt collection processes

FCA Guidelines: Financial Conduct Authority guidelines establishing best practices for debt collection and ensuring fair treatment of debtors

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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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