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Debts & debt recovery
This part of the site provides information and documents pertaining to debt and debt recovery including Debt recovery, Promissory notes, Powers of attorney, Assignments of debt and more. In a competitive business environment, positive cashflow can be critical to survival, and making sure that your customers promptly pay the money they owe you is central to that goal.
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Debts & debt recovery
Products
Debt, bankruptcy and liquidation
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When signed, this document will acknowledge the debt that is owed by one person to another, the reason why the debt arose and the amount owed. This serves two very important purposes - it makes it easier…
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This is not a general guarantee for the payment of a debt but is only to be used as a guarantee where the creditor has commenced legal proceedings against the debtor for payment of an outstanding debt and…
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Use this letter to make an offer to a creditor to pay a debt by instalments. With this letter, you will attach your first instalment by way of cheque. Although the creditor is not obliged to accept your…
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Use this document to generate a promissory note, which is a written promise that you – the ‘maker’ - will pay a fixed sum of money to the payee either on demand or on the date specified…
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Use this document to generate a promissory note, which is a written promise that you – the ‘maker’ - will pay a fixed sum of money by way of instalments on specified dates. The maker can…
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Debt recovery
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Use this document to create two letters demanding payment for an overdue invoice. The first letter is an initial letter demanding payment for an overdue invoice; whilst the second letter is to be used if…
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Use this document to make an application to county court to recover money owed to you through unpaid invoices. Before making this application, you must have already sent at least two letters to the…
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This document allows you to draw up a general power of attorney authorising one or more persons to collect debts on your behalf – it is strictly limited to this one purpose. You might want to use…
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Use this document to create a letter before taking action with respect to a claim that you have made. You should have previously sent a letter to the person you are making a claim against, detailing how…
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Use this letter to demand payment of an outstanding invoice before taking action in court to recover the outstanding invoice. Without sending this letter, the court may find that you have been…
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Use this letter to create a reminder for an outstanding invoice. The letter can be used by a business, as well as a private individual. If payment is not made, you may be able to charge interest on the…
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This is a letter of reminder to a debtor company for a continued outstanding invoice payment owing to the supplier.
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Guaranteeing steady cash flow is one of the important activities a business can undertake. Setting good ground rules for handling those who default on their credit agreements is essential, and sometimes…
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Guarantees & assignments
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If you wish to assign the payment of a debt that is owed to you to another person (the assignee), you can use this document to do so. Once this debt has been assigned and the debtor has been notified of…
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If you wish to guarantee an existing or future debt of another to a creditor, you can use this document to do so. This document is suitable whether the loan has already been given, whether the loan will…
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Use this document to guarantee the debt of another, whether the loan has already been given or will be given at some point in the future. The document will allow the guarantor(s) to set a limit as to the…
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If you wish to guarantee the obligations of another under a contract, you can use this document to do so. This guarantee should be used after the contract has already been signed or at the same time that…
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