Secured Creditor Demanding Payment from Borrower
Date : ________ [DATE]
_____________ [NAME, COMPANY AND ADDRESS, example. Smith
XYZ LLC ,1234 1st Street,Anycity, Anystate 85245]
Dear _______ [NAME, example. Harry],
Notice is hereby given that _______ [BORROWER’S NAME] has defaulted in payment of its indebtedness to us. As of _______ [DATE], _________[BORROWER’S NAME] the indebtedness amounts to _____________ [FULL AMOUNT OF DEBT, INCLUSIVE OF PRINCIPAL AND INTEREST, example. 10000.52] inclusive of principal advances and accrued interest.
We therefore demand payment in full of of ____________[BORROWER’S NAME] unpaid indebtedness to us in the amount of _______________ [FULL AMOUNT OF DEBT, INCLUSIVE OF PRINCIPAL AND INTEREST, example. 100000.88] on or before __________[DATE OF DEADLINE FOR REPAYMENT, example. Nov 30, 2018], failing which we will take such action as may be necessary to effect repayment, including realization under any collateral security delivered to the us.
Kindly govern yourself accordingly.
Sincerely,
____________ [YOUR NAME, Example. Alvin]
