North Dakota 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 [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 as Guarantor Dear [Guarantor's Name], I hope this letter finds you in good health and high spirits. My purpose in writing this letter is to formally demand payment on behalf of [Creditor's Name], who has extended credit to [Debtor's Name]. As the guarantor of the aforementioned debt, it is your responsibility to fulfill the obligations set forth in the guarantee agreement. [Optional: If applicable, briefly explain the nature of the underlying debt or loan.] Despite our previous communication and reminders regarding the outstanding balance, [Debtor's Name] has failed to settle the debt within the specified timeframe. As the guarantor, your role is to ensure the repayment of the debt in the event the debtor defaults, which has now occurred. Enclosed with this letter, please find copies of all relevant documentation, including the guarantee agreement, the outstanding invoice(s), and any correspondence exchanged between [Creditor's Name], [Debtor's Name], and yourself. These documents clearly illustrate the debt's existence, the overdue balance, and your liability as the guarantor. The total amount currently owed by [Debtor's Name] is $[Total Amount]. It is imperative that this payment is made in full within [Specific Period] from the date of this letter to avoid further actions such as legal proceedings or reporting the delinquency to credit bureaus. Upon receipt of this letter, we kindly request that you remit the full payment to [Creditor's Name] using one of the following methods: 1. Online Payment: [Include instructions if applicable.] 2. Check Payment: Please make the check payable to "[Creditor's Name]" and mail it to the following address: [Creditor's Name] [Address] [City, State, ZIP] 3. Wire Transfer: For wire transfer instructions, please contact [Creditor's Name] at [Phone Number] or [Email Address]. If there are mitigating circumstances that prevent immediate payment, we are open to discussing a feasible repayment arrangement. However, please note that any arrangement should be proposed within [Specific Period] from the date of this letter, and it will be subject to approval by [Creditor's Name]. Failure to respond to this demand letter or disregard for your responsibilities as the guarantor may result in legal action being taken against you personally. Such actions could include, but are not limited to, filing a lawsuit to recover the outstanding amount, pursuit of a judgment, and potential enforcement measures. We sincerely hope that it does not come to that and that this matter can be resolved amicably and promptly. We trust your commitment to fulfilling your obligations as the guarantor and look forward to your immediate action. Please consider this correspondence as an official notice. Acknowledgment of receipt is requested, whether by email or mail, within [Specific Period] from the date of this letter. Thank you for your attention to this matter. Should you have any questions or concerns, do not hesitate to contact me directly at [Your Phone Number] or [Your Email Address]. Yours sincerely, [Your Name] [Your Title/Position] [Company Name] (if applicable)

[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 as Guarantor Dear [Guarantor's Name], I hope this letter finds you in good health and high spirits. My purpose in writing this letter is to formally demand payment on behalf of [Creditor's Name], who has extended credit to [Debtor's Name]. As the guarantor of the aforementioned debt, it is your responsibility to fulfill the obligations set forth in the guarantee agreement. [Optional: If applicable, briefly explain the nature of the underlying debt or loan.] Despite our previous communication and reminders regarding the outstanding balance, [Debtor's Name] has failed to settle the debt within the specified timeframe. As the guarantor, your role is to ensure the repayment of the debt in the event the debtor defaults, which has now occurred. Enclosed with this letter, please find copies of all relevant documentation, including the guarantee agreement, the outstanding invoice(s), and any correspondence exchanged between [Creditor's Name], [Debtor's Name], and yourself. These documents clearly illustrate the debt's existence, the overdue balance, and your liability as the guarantor. The total amount currently owed by [Debtor's Name] is $[Total Amount]. It is imperative that this payment is made in full within [Specific Period] from the date of this letter to avoid further actions such as legal proceedings or reporting the delinquency to credit bureaus. Upon receipt of this letter, we kindly request that you remit the full payment to [Creditor's Name] using one of the following methods: 1. Online Payment: [Include instructions if applicable.] 2. Check Payment: Please make the check payable to "[Creditor's Name]" and mail it to the following address: [Creditor's Name] [Address] [City, State, ZIP] 3. Wire Transfer: For wire transfer instructions, please contact [Creditor's Name] at [Phone Number] or [Email Address]. If there are mitigating circumstances that prevent immediate payment, we are open to discussing a feasible repayment arrangement. However, please note that any arrangement should be proposed within [Specific Period] from the date of this letter, and it will be subject to approval by [Creditor's Name]. Failure to respond to this demand letter or disregard for your responsibilities as the guarantor may result in legal action being taken against you personally. Such actions could include, but are not limited to, filing a lawsuit to recover the outstanding amount, pursuit of a judgment, and potential enforcement measures. We sincerely hope that it does not come to that and that this matter can be resolved amicably and promptly. We trust your commitment to fulfilling your obligations as the guarantor and look forward to your immediate action. Please consider this correspondence as an official notice. Acknowledgment of receipt is requested, whether by email or mail, within [Specific Period] from the date of this letter. Thank you for your attention to this matter. Should you have any questions or concerns, do not hesitate to contact me directly at [Your Phone Number] or [Your Email Address]. Yours sincerely, [Your Name] [Your Title/Position] [Company Name] (if applicable)