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Information on sending a demand for payment
Hi All,
I would like to ask does anyone know if I can send out my 3 notices and demands for debt to a fiduciary party that has defaulted against my sent A4V money order.
Please note I did not add a default and liability clause notice this is why I ask.
To me they are in commercial default so therefore I can send my notices but I would like a second opinion please.
I have sent the money order and the fiduciary for that money has now sold the debt to a 3rd party and reported me to equifax.
I want to now put pressure on the fiduciary and send out my notices for payment and then eventually report the fiduciary to equifax.
I just want to know does the fiduciary not accepting my sent payment fall as a default and warrant my notices for payment?
My A4V was well put together so I’m confident in sending’s the notices of payment if indeed they have defaulted.
Thank you
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This discussion was modified 1 year, 1 month ago by
Danny Perkins. Reason: Add more wording
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This discussion was modified 1 year, 1 month ago by
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2 Replies
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Hey mate, in this scenario (discharging debt) there are generally 2 things that will give you cause of action to issue “Demand for payment of debt” notices and then counterclaim.
1. Default & Liability Clause & Notice – Which has provisions that render the payee (lender) liable for 4x the amount of what they are seeking from you. They become liable for that amount once they are in “default” for breaching the contract where they agree’d to accept your money order (providing you put that in the terms and conditions of your contract.)
2. Fee schedule – Usually you issue this after you send 3 successive conditional acceptance notices demanding proof of their claim. Send them the fee schedule with the 3rd notice and then start sending them invoices for your time.
Since the Default & Liability Clause wasn’t in your contract then you can’t really go after them for breach of contract (I don’t know what else is in your contract, would have to have a look at it). Because of the above, them not accepting your money order is not really a default per se, but more just a “dishonour”.
I think issuing a fee schedule may be your best course of action given the absence of the Default & Liability Clause. Hope this all made sense. Someone else may be abke to add more value. Feel free to give me call mate
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Hey Mate,
Thanks for the reply.
In my first notice there was a fee schedule and I mentioned that fee schedule in the default and final notice.
So i believe I am good to go lol
I’m still overseas but get back in late May so I’ll be sure to call you once I’m back. 🙂
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