When drafting a demand letter for payment of debt, it's crucial to maintain a polite yet firm tone. Clearly state the details of the debt, including the amount and due date, and specify the consequences of non-payment. Provide a reasonable deadline for repayment and include contact information for further communication.
Sample Letter Demanding for Payment of the Debt
To,
__________ (Receiver’s Name),
__________ (Receiver’s Address)
Date: __/__/____ (date)
Subject: Demand for payment of debt
Respected Sir/Madam,
This is to most humbly inform you that my name is _________ (name) and I write this on behalf of _________ (mention name of the financial service provider) in reference to the debt that you have taken from us on __/__/_____ (date) amounting to _________ (mention the amount).
As per the contract signed, the due date for the repayment was __/__/____ (date), but, we have not received the payment for the amount borrowed. Consider this as a letter of demand for the repayment of the loan amount. You are supposed to make the payment of the mentioned amount by __/__/_____ (date) in order to prevent further penalties.
For,
___________ (mention you name with signature),
___________ (contact number)
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