[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Guarantor's Name] [Guarantor's Address] [City, State, ZIP] Subject: Demand for Payment on Guaranty — Outstanding Debt of [Debtor's Name] Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you as the guarantor for the aforementioned debtor, in relation to an outstanding debt that remains unpaid despite numerous attempts to collect payment. As per the terms and conditions outlined in the Guaranty Agreement signed on [Date], you agreed to be financially responsible for the debts owed by the debtor to our company. This letter serves as a formal demand for payment on guaranty. [Debtor's Name], the principal debtor on the loan, has defaulted on their obligations, leading to the balance remaining overdue. The amount owed currently stands at $[Amount], which includes the principal amount, accrued interest, late charges, and any additional fees as stipulated in the loan agreement. Despite our previous notifications and efforts to reach a resolution, the debtor has shown no intention or ability to fulfill their financial obligations. We hereby demand that you, as the guarantor, fulfill your promise to repay the outstanding debt immediately. The terms of the Guaranty Agreement state that upon default by the debtor, the guarantor becomes directly liable for the entire amount. Failure to settle the outstanding debt within [Timeframe — e.g., 10 days] from the date of this letter will leave us with no choice but to initiate legal action against both the debtor and the guarantor to recover the full amount owed, along with any legal fees and associated costs. Furthermore, this may have serious implications for your creditworthiness and financial standing. To resolve this matter promptly and avoid potential legal consequences, we kindly request that you remit payment for the full outstanding amount of $[Amount] within the specified timeframe. Payment can be made via [Accepted Payment Methods], and you may contact our office at [Phone Number] or via email at [Email Address] to discuss payment arrangements, request a payment plan, or seek clarification regarding this matter. We strongly advise you to seek legal counsel or consult with a financial professional to fully understand your obligations and responsibilities as a guarantor. However, please note that pursuing such recourse will not absolve you of the immediate payment obligation mentioned herein. In conclusion, we expect your prompt attention to this matter and look forward to receiving payment in full within the stipulated timeframe. We hope that we can resolve this issue amicably without the need for further legal action. However, we want to emphasize that we are fully prepared to take all necessary steps to protect our rights if payment is not received as demanded. Please do not hesitate to contact our office if you have any inquiries or require additional information. Thank you for your immediate attention to this matter. Sincerely, [Your Name] [Your Title/Position] [Your Company Name]
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.