A Demand Letter for Payment is a written final request for money that is owed by a debtor. The demand is concise, firm, and clear. The Demand for Payment Letter typically includes a deadline for the money to be paid and an incentive for making the payment on time. This incentive can be positive or negative. For example, a positive incentive is a discount and a negative incentive is a threat to send the payment to collections or take the matter to court. The purpose of the incentive is to motivate the debtor to settle their debt.
A sample Demand Letter for Payment can be downloaded below.
Though there are many reasons why writing a Demand Letter for Payment is necessary, all letters require attention to detail, professionalism, and thoroughness.
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