Demand for Payment Letter, Sample & Format

Demand for Payment Letter

Introduction:

When one gives a loan, it is sometimes necessary to remind the debtor to make payment. When a person fails to make prompt payment the company should remind the debtor gently, even after reminders if the debtor refuses to pay up or contact the company regarding the repayment, the letters can get harsher demanding the debtor to pay up. The last resort should be going to court. An official letter id is written by the company to the debtor regarding the same. When such a letter is written a copy of the letter as well as the receipt of the courier is kept as a proof in case the matter goes to court.

Demand for payment letter is written by the creditor to a debtor requesting payment on an outstanding amount. The letter contains connotations of harshness in demanding payment from the debtor as it could be that the debtor has been delaying payment. Legal actions can be taken against the debtor if this demand for payment letter is not acted upon.

Sample Letter:

The following is a Sample of Demand for Payment Letter.

 

From,

Corinne R. Phillips

Credit Officer

Easy Loans & Servicing

1527 Veltri Drive
Wasilla, AK 99654

DD/MM/YYYY

To,

Graham Shale

90 Lion Street
Bailey, CO 83991

Mr. Shale,

RE: Final notice on outstanding payment

Please note that you have defaulted payment on your credit card, MasterCard No. 89283-9883 since DD/MM/YYYY. Despite numerous reminders, no action has been taken by you to clear the outstanding amount of $2500.00. We have not even heard from heard from you despite our gentle reminders to repay the amount or get back to us in case of difficulty. We had been respectful and lenient till now as you have been a wonderful and prompt client for the past few years.

There will be no further reminders after this letter. If you do not settle half the outstanding amount by DD/MM/YYYY, legal action will be taken against you. We would rather wish for an out of court settlement as this may affect your future credibility, but non-payment of the dues might force our hand. If you have particular reasons for the delay, kindly consult our financial adviser immediately.We take our customers and their problems seriously and would advise you as to your options

You have been a good paymaster, and it is our hope that we can continue to transact amiably in the future.

Your prompt cooperation in this request is required.

For Easy Loans & Services,

Corinne R. Phillips

Credit Officer

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