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Demand Letter Formnat

This letter is a demand for payment of an outstanding loan amounting to [AMOUNT IN WORDS]. The recipient took out a loan on [DATE] but has failed to make installment payments as agreed. Unless payment is made within 5 days, legal action will be taken to recover the amount owed plus attorney's fees, interest, and litigation costs. The recipient is asked to give this matter serious attention to avoid legal proceedings.

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5K views1 page

Demand Letter Formnat

This letter is a demand for payment of an outstanding loan amounting to [AMOUNT IN WORDS]. The recipient took out a loan on [DATE] but has failed to make installment payments as agreed. Unless payment is made within 5 days, legal action will be taken to recover the amount owed plus attorney's fees, interest, and litigation costs. The recipient is asked to give this matter serious attention to avoid legal proceedings.

Uploaded by

SakuraCardCaptor
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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DATE

TO: NAME
RESIDENTIAL ADDRESS

Re: Demand for Payment

Sir/ Madame:

This refers to your outstanding obligation in the amount of [AMOUNT IN WORDS]


(Php __________________) per promissory note/contract you had duly executed on [DATE] ,
which became due and demandable as of [DUE DATE].

You will recall that you entered into a loan agreement with us on [DATE] for the total
amount of ______________________ which you had promised to pay in installment payments
from _________________ to ______________________, 20___, together with surcharges and
interest in the total amount of [AMOUNT IN LETTERS AND FIGURES]. However, the
NAME OF BANK/MODE OF PAYMENT/CHECK you issued in the name of
______________________ was dishonored on [DATE] for [REASON: DAIF, ETC.]

In this connection, we hereby demand that you pay the aforesaid amount or make
arrangements for the payment thereof within five (5) days from receipt hereof, or we will be
constrained to file the necessary civil and or criminal action against you and charge your
company of attorney’s fees equivalent to 25% of the total claim, interest/penalty at the rate of 3%
per month, and cost incidental to a case thereby exposing you to rigors, inconvenience,
embarrassment and unnecessary expense of litigation.

Please give this matter your serious and preferential attention.

Very truly yours,

_________________________

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