Mississippi Sample Letter for Demand on Guarantor

• Category: Letters - Nonlegal - Demands
• State: Multi-State
• Control #: US-0364LR
• Format: Word; Rich Text

Description

Sample Letter for Demand on Guarantor Dear [Guarantor's Name], RE: DEMAND ON GUARANTOR I hope this letter finds you well. We are writing to you as the guarantor of [Borrower's Name] regarding their outstanding debt with [Creditor's Name]. It has come to our attention that despite previous notifications, [Borrower's Name] has failed to fulfill their financial obligations as agreed upon in the loan agreement. Mississippi Sample Letter for Demand on Guarantor serves as an official communication highlighting the need for immediate payment from the guarantor. The purpose of this letter is to assert our rights under the guarantee agreement signed by you on [Date] and to request prompt attention to this matter. As provided in the guarantee agreement, you assumed full responsibility for the repayment of the outstanding debt in the event that the borrower defaulted. It is crucial to stress that the borrower has consistently failed to meet their repayment obligations within the agreed-upon timeframe, leaving us with no alternative but to turn to you, the guarantor. The current outstanding debt amounts to [Specify Amount]. We hereby demand that you fulfill your obligations as a guarantor by making full payment of the outstanding balance within [Specify Timeframe, usually 15-30 days]. It is imperative to ensure that this payment is remitted within the specified timeframe to prevent further escalation of this matter. Kindly note that failure to respond or make the necessary payment may result in legal action to recover the outstanding debt, together with any associated costs and legal fees. We sincerely hope it does not come to that, as we believe in amicable resolution and maintaining positive relationships with our clients. To expedite the settlement process, we have provided the necessary payment instructions below: Account Name: [Name of Creditor] Account Number: [Creditor's Account Number] Bank Name: [Name of Bank] Bank Address: [Bank's Address] Upon receipt of the outstanding balance, we will consider the debt settled and release you from your obligations as guarantor. If there are any concerns or disputes regarding this demand, please contact our office immediately at [Creditor's Contact Information]. We encourage open communication to resolve this matter swiftly and efficiently. Thank you for your prompt attention to this request. We trust that you will fulfill your responsibilities as a guarantor without delay. Yours sincerely, [Your Name] [Your Position] [Your Company Name] [Your Contact Information]

Dear [Guarantor's Name], RE: DEMAND ON GUARANTOR I hope this letter finds you well. We are writing to you as the guarantor of [Borrower's Name] regarding their outstanding debt with [Creditor's Name]. It has come to our attention that despite previous notifications, [Borrower's Name] has failed to fulfill their financial obligations as agreed upon in the loan agreement. Mississippi Sample Letter for Demand on Guarantor serves as an official communication highlighting the need for immediate payment from the guarantor. The purpose of this letter is to assert our rights under the guarantee agreement signed by you on [Date] and to request prompt attention to this matter. As provided in the guarantee agreement, you assumed full responsibility for the repayment of the outstanding debt in the event that the borrower defaulted. It is crucial to stress that the borrower has consistently failed to meet their repayment obligations within the agreed-upon timeframe, leaving us with no alternative but to turn to you, the guarantor. The current outstanding debt amounts to [Specify Amount]. We hereby demand that you fulfill your obligations as a guarantor by making full payment of the outstanding balance within [Specify Timeframe, usually 15-30 days]. It is imperative to ensure that this payment is remitted within the specified timeframe to prevent further escalation of this matter. Kindly note that failure to respond or make the necessary payment may result in legal action to recover the outstanding debt, together with any associated costs and legal fees. We sincerely hope it does not come to that, as we believe in amicable resolution and maintaining positive relationships with our clients. To expedite the settlement process, we have provided the necessary payment instructions below: Account Name: [Name of Creditor] Account Number: [Creditor's Account Number] Bank Name: [Name of Bank] Bank Address: [Bank's Address] Upon receipt of the outstanding balance, we will consider the debt settled and release you from your obligations as guarantor. If there are any concerns or disputes regarding this demand, please contact our office immediately at [Creditor's Contact Information]. We encourage open communication to resolve this matter swiftly and efficiently. Thank you for your prompt attention to this request. We trust that you will fulfill your responsibilities as a guarantor without delay. Yours sincerely, [Your Name] [Your Position] [Your Company Name] [Your Contact Information]