Know your rights - Final Demands

A final demand is usually a letter sent by the creditors you owe money to demanding payment -usually within 7 days before they take further action.

You should not ignore a Final Demand letter and should always contact the creditor immediately to avoid them taking further action. If you ignore it and they issue proceedings against you they will usually add their additional costs onto the amounts you owe.

What you should do if you receive a final demand letter.
Firstly you should check the amounts they are claiming. If you disagree with what they say you should contact the creditor immediately to explain that you do not agree with the amount owed. You should ask them not to take any further action until the amount owed is agreed.

If the amount they are claiming is correct you should contact the creditor immediately and explain why you have not paid the sums due. They will usually be sympathetic especially if you agree to start repaying the debt in instalments over a period of time. Try and reach a sensible agreement with them that you know you can afford to keep - as to break a further promise of payment may result in them taking further action. What you are doing here is known as self debt management.

If you cannot agree a suitable repayment plan with the creditor then you should seek immediate advice to avoid matters getting worse.

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