Dear [Guarantor's Name], I hope this letter finds you well. My purpose in writing to you today is to discuss your role as a guarantor for [Debtor's Name] in reference to the [Agreement or Loan] dated [Date]. As you are aware, the guarantor assumes the responsibility of fulfilling the financial obligations in the event that the debtor defaults on their payments. Unfortunately, it has come to our attention that [Debtor's Name] has failed to make the required payment(s) as stipulated in the aforementioned agreement. Despite our previous attempts to rectify the situation amicably, the outstanding balance remains unsettled. Hence, we are left with no option but to reach out to you as the guarantor and demand the fulfillment of this financial liability. Based on the agreement terms, the guarantor is legally bound to make the payment in full within [Number of Days or a reasonable time frame, according to the agreement]. The current outstanding balance, including any accrued interest, is summarized below: Principal Amount: [Amount] Accrued Interest: [Amount] Late Fees: [Amount] Total Outstanding Balance: [Amount] Pursuant to the terms outlined in the agreement, we kindly request that you remit the full outstanding balance mentioned above within [Number of Days]. Failure to comply with this demand may result in the initiation of legal proceedings to recover the debt, which may include a lawsuit filed against you as the guarantor. Alternatively, if you are experiencing any financial hardship or foresee any challenges in fulfilling your obligations under the agreement, we are open to discussing a reasonable repayment plan. Please understand that any deviation from the original terms would require the consent of both parties involved and should be in writing to ensure clarity and enforceability. We strongly urge you to treat this matter with utmost seriousness and take immediate action to settle the outstanding debt to avoid legal consequences and damage to your credit history. Kindly respond to this letter as soon as possible to confirm your intentions and provide any necessary documentation or information required to facilitate the resolution of this matter. Thank you for your attention to this urgent matter. We trust that you will take the necessary steps to fulfill your commitments as the guarantor promptly. Yours sincerely, [Your Name] [Your Title/Position] [Your Contact Information: Phone Number, Email, Address] Note: Wake North Carolina Sample Letter for Demand on Guarantor is a general term and may refer to various letters written to guarantors in Wake, North Carolina demanding payment or fulfillment of financial obligations for loans, leases, contracts, or other agreements. The specific types of demand letters may vary based on the nature of the debt and the circumstances of the agreement.
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.