big debt owed to me from friend

Emmia

Savvy_Sue said:

Just a nit-pick: friend needs to set up a Standing Order, NOT a DD. There's important differences between the two.

Don't threaten anything you won't go ahead with.

This last bit is essential.

OP, if you're serious about potentially going down a legal route to force bankruptcy if he won't settle his debts, I'd consider paying for a solicitor to write the letter.

If you won't follow through, on your threat/promise (and the fact he owes you enough for a small property, means you've been a bit of a soft touch up to now). Then you'd be better walking away and not communicating with him at all.

Sea_Shell

I agree about making empty threats.   Don't bother, unless you really will follow through on them.

Reminds me of a parent I overheard in an airport departure lounge, telling their kid to "behave, or we'll leave you behind".