Demand for payment
A request, usually in writing, requiring a debt to be paid by a stated date. Some demands have specific legal significance.
Related terms
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Late payment
A payment made after the contractual, statutory or agreed due date.
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Missed payment
A scheduled payment that was not made by the due date.
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Creditor action
Steps taken by a creditor to recover or protect a debt, ranging from demands and negotiation to court or insolvency proceedings.
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