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A goodwill letter is a formal letter sent to a creditor, lender or collection agency to request forgiveness for a late payment or other negative item on your credit report. In the letter, you ...
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
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.
The right of redemption is a legal process that gives homeowners who have fallen behind on their mortgage payments the opportunity to keep their home by paying the money they owe, plus interest ...
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 .
The private company that processes many bank-to-bank electronic transfers said a 'processing error' last week led to payment delays on roughly 850,000 transactions.