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A demand letter, letter of demand, [1] (of payment), or letter before claim, [2] is a letter stating a legal claim (usually drafted by a lawyer) which makes a demand for restitution or performance of some obligation, owing to the recipients' alleged breach of contract, or for a legal wrong.
Sample dunning record, from a 1913 business manual. Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable . Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue .
“Debt collectors are mandated by law to disclose the amount due, the name of the creditor and the right of the debtor to verify or dispute the debt,” said David Clark, lawyer and partner at ...
Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.
A finance expert's 4-step plan and practical tips to paying off your high-interest debt — and becoming debt-free. ... card and paying it off in full while making the minimum payment on all your ...
Credit card debt consolidation involves streamlining the repayment process by combining some (or all) of your debts into one periodic payment. The aim is to secure a better interest rate and ...
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