About Paywatch

A simple yet effective web application, enabling in-house debt recovery management

 

notebook (1024x683)

Debt Recovery and Paywatch

Legal Letters of Demand

You may be familiar with the process of sending reminder notices to clients/customers after your payment terms have expired. Depending on the procedures you have in place and the response or lack of response from the debtor, you may send out a number of these notices seeking to finalise the account.

It is often the case that these reminder notices are ignored by the debtor and the outstanding debt simply continues to age.

The Paywatch system enables you to request a legal letter of demand to be sent to the debtor from Havilah Legal on your behalf, advising that the outstanding account must be finalised within 7 days or legal action may be taken to recover the amount.

We know from our experience that debtors who receive a letter of demand from a law firm, are far more likely to respond, resulting in significantly faster recovery times.

Recovery Clauses

If you haven’t reviewed your terms and conditions, you should check to see if they contain a costs recoverable clause. A costs recoverable clause maximises the chances of being able to recover some of the costs incurred in pursuing an outstanding amount from a debtor.

Paywatch letters of demand explain to debtors that if legal proceedings are required to be brought against them, that those proceedings will include a claim for interest on the debt as well as a claim for the costs of the legal action, both of which may be payable by the debtor (should a valid recoverable clause be in place).

Having in place legally enforceable payment terms is crucial should you find yourself in the regrettable situation of chasing overdue accounts through the courts. Court costs incurred when using the Paywatch system may be partially recoverable from the debtor depending on the size of the debt and the jurisdiction.

If you are unsure whether your terms and conditions are effective, Havilah Legal will be able to review them and recommend appropriate changes.

Find Out More

Click Here