The 5 Day Demand Letter is a standard pre-litigation document used in Irish debt collection practices when previous attempts to secure payment have been unsuccessful. It serves as a final formal notice before legal proceedings are initiated, typically used when the debt is clear and undisputed. The document must comply with Irish debt collection laws, including the Consumer Protection Act 2007 and the Central Bank's Consumer Protection Code 2012. It's designed to clearly state the amount owed, provide evidence of the debt, outline payment requirements, and specify consequences of non-payment. This type of demand letter is particularly effective in commercial dealings and can be used for various types of debts, from unpaid invoices to loan arrears. The 5-day timeline is specifically chosen to provide a reasonable but urgent deadline for response, while also satisfying legal requirements for notice before court proceedings.

1. Sender Details: Full legal name, address, and contact information of the creditor or their representative

2. Recipient Details: Full legal name and address of the debtor, including any relevant account or reference numbers

3. Date: Current date of the letter

4. Subject Line: Clear indication that this is a formal demand for payment

5. Debt Details: Specific amount owed, origin of the debt, and date(s) when it was incurred

6. Payment History: Brief summary of any previous payments made and current outstanding balance

7. Formal Demand: Clear statement demanding payment within 5 days

8. Payment Instructions: Specific details on how and where to make the payment

9. Legal Consequences: Statement of intended legal action if payment is not received within the specified timeframe