Sample Letter for Demand on Guarantor in the Virgin Islands [Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Guarantor's Name] [Guarantor's Address] [City, State, Zip Code] Subject: Demand for Payment on Guarantee Obligation Dear [Guarantor's Name], I hope this letter finds you in good health. I am writing to discuss an outstanding debt related to [Borrower's Name], for which you have acted as the guarantor. This letter serves as a formal demand for immediate payment in the amount of [Total Amount Due] for the debt owed to [Creditor's Name], as guaranteed by you. According to the terms outlined in the [Loan Agreement/Credit Agreement/Contract] signed by both the borrower and yourself, you agreed to act as the guarantor for [Borrower's Name] in case of default or non-payment. As per the agreement, the borrower failed to fulfill their payment obligations, and we are now turning to you as the guarantor to honor your commitment. The total outstanding balance of the loan, including principal amount, accrued interest, and any additional charges, currently stands at [Total Amount Due]. We request that you remit the payment in full to [Creditor's Name] within [Payment Deadline/Maturity Date] to avoid further legal actions and potential damage to your creditworthiness. Please note that the creditor has performed all necessary actions to notify the borrower of their default, but no payment arrangements or settlements have been reached thus far. Given this situation, we have no choice but to enforce the guarantee and hold you responsible for the outstanding debt. Failure to comply within the given timeframe may result in legal proceedings against you to recover the entirety of the debt owed. Additionally, any legal costs incurred by the creditor during this process will also become the responsibility of the guarantor. We strongly encourage you to treat this matter with urgency and take the necessary steps to fulfill your obligations as the guarantor. Should you have any questions or require further clarification regarding this matter, please do not hesitate to contact us at [Phone Number] or [Email Address]. Thank you for your immediate attention to this matter. We look forward to receiving your prompt payment. Yours sincerely, [Your Name] [Your Title/Position] [Creditor's Name] [Phone Number] [Email Address] Keywords: Virgin Islands, sample letter, demand, guarantor, payment, debt, loan agreement, credit agreement, default, non-payment, outstanding balance, principal amount, interest, legal actions, creditworthiness, payment deadline, maturity date, settlements, legal proceedings, recover debt, legal costs.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.