Notice of default
Are you considering sending your debtor a notice of default? With a notice of default, you inform your debtor that there is a delay in payments or that your debtor has not fulfilled their contractual agreement. With a notice of default, your debtor is informed of the claim is being transferred to a third party. You allow your debtor 14 days to repay the outstanding amount before the default is added to your debtor’s credit file. Sending a notice of default is often a mandatory step in order to take further legal action.
In which situations can you submit a notice of default?
- The rent has not been paid
- The goods have not been delivered
- The delivery of faulty goods
- The goods have been delivered incorrectly
- When faulty services have been provided
- When there is an outstanding invoice
What if my debtor still refuses to pay?
If your debtor ignores the payment deadline, then this will have a negative effect on your debtor’s credit score. Your debtor’s credit score will be penalized for missed payments. This means it will become more difficult for your debtor to request business loans or apply for certain grants or insurances. Future creditors will also see that that there is a higher risk of this debtor not paying back on time.
Sending a notice of default to your foreign debtor
If your debtor fails to respond to your demand letters, you can hire a debt collection agency for drafting a notice of default. Our debt collection specialists and lawyers can draft a notice of default on your behalf. The letter will be written in the same language as your debtor. Together with your caseworker, you can decide on how you wish your debtor to be approached. Since our specialists are experienced in multiple industries, we can adjust the notice of default according to your needs and what is most suitable for your business operations.
What can we do for you?
- Draft final payment reminders in the same language as your debtor
- Adjust final payment reminders according to your needs
- Draft final payment reminders according to your industry
- Contacts with international bailiffs and private detectives
- Access to the largest B2B debt collection databases
Notice of default sample letter
A notice of default has a specific format that must be adhered to. In some cases, a notice of default sample letter will have to drafted according to your specific case. Or debt collection specialists and lawyers can assist you in drafting a notice of default according to your needs. Moreover, our lawyers can provide sound and honest advice.
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What should be included in a notice of default?
- Clear description of the company, contact details and invoice number
- A description of the debt
- A description and explanation of the amount claimed including interests and costs
- A clear time frame of when the entire claim should be paid
- Consequences if the payment has not been completed, such as initiating legal proceedings
- Informs your debtor of a delay in payments
- Contains all the details you should request from your debtor
- Easily adjustable according to your debt collection case
Notice of default in the language of your debtor
Whether you have a French, German, Spanish or any other foreign debtor, our lawyers can draft a notice of default in the language of your debtor. With native in-house lawyers with knowledge of their country’s legal systems, we have the knowledge and experience to retrieve your outstanding claims.
What can our international specialists do for you?
Sending a notice of default is often the last resort of retrieving your claim amicably. With Bierens Debt Recovery Lawyers, your notice of default will be written in the same language of your debtor and customised according to your debt collection case. Since we carry legal authority your debtor will also be more inclined to pay. Contact us today for more information.
