Debt Statement

To assist practitioners working in Debt Recovery – Acting for the claimant, we have published a Debt statement which brings together details of the debt, interest and costs, as well as the payments that have been made towards it.

This will be especially useful where payment plans have been agreed with debtors and is designed to work alongside the Invoice, Debt details and Payment tables within LEAP.

1. Insert the debt details in an Invoice table – add another invoice by right clicking on the existing one to record more than one debt amount if required.

2. Insert interest and costs details in the top half of the Debt details table.

3. Insert payment details into a Payments table each time a payment is received – add another payment by right clicking on the existing one.

4. Provided the above information has been entered into LEAP, the Debt statement will be complete. If the information is incorrect, amend the LEAP tables and use the update button in the LEAP ribbon tab to update the document. 

This document can be produced as many times as necessary to provide successive statements.

An accompanying Letter to debtor enclosing debt statement has also been published.

Adding these new precedents is part of By Lawyers continuing commitment to enhancing our content and helping our subscribers enjoy practice more.