North Dakota Sample Letter to Client - Failure to pay account and proposed withdrawal

• Category: Letters - Legal - Client Relations
• State: Multi-State
• Control #: US-0520LTR
• Format: Word; Rich Text

Description

Sample Letter to Client - Failure to pay account and proposed withdrawal [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Client's Name] [Client's Address] [City, State, ZIP Code] Subject: Failure to Pay Account and Proposed Withdrawal Dear [Client's Name], I hope this letter finds you in good health and high spirits. I am writing to address a matter of significant concern regarding your outstanding account balance with [Your Company Name]. The purpose of this letter is to inform you about the status of your account, the consequences of non-payment, and propose a withdrawal plan that could help resolve the issue amicably. As of today, your account remains delinquent with an outstanding balance of [amount]. Despite our previous attempts to communicate the importance of timely payment, your account has not been settled. This puts a strain on both our financial operations and the business relationship we have cultivated over the years. We value your business and want to find a mutually beneficial solution. Nonetheless, given the circumstances, we cannot continue to extend credit indefinitely. It is crucial that you pay the outstanding balance within [number of days] days from the date of this letter to avoid further complications. Failure to do so may result in the following: 1. Suspension of Services: In the event of non-payment, we regretfully inform you that we will be forced to suspend all services, including [specific services] that have been rendered but not yet settled. This suspension will remain in effect until your account is settled in full. 2. Late Payment Penalties: In accordance with our terms and conditions, a late payment fee of [amount] or [percent]% of the outstanding balance will be added to your account for every [time period] that passes without payment. These penalties are designed to cover administrative costs and to encourage prompt payment. 3. Legal Action: If the account remains unpaid after [number of days] days from this letter's date, we will be left with no option but to explore legal remedies to recover the outstanding amount. This may include filing a lawsuit to collect the debt, which could lead to additional legal expenses and potential damage to your credit history. We understand that unforeseen circumstances can arise, and that is why we propose a withdrawal plan to address your outstanding debt in manageable installments. We suggest the following terms for the proposed plan: 1. Monthly Installments: We propose dividing the outstanding balance into equal monthly installments over a period of [number of months]. This will ease the financial burden by spreading the payments out over time. 2. Payment Method: You may choose to make payments either via mail, online by accessing your client portal, or through direct bank transfers. Please let us know your preferred method, and we will provide you with the necessary details. 3. Confirmation of Agreement: To initiate the withdrawal plan, please sign and return a copy of this letter by [date] indicating your acceptance of the proposed terms. Upon receipt, we will send you a detailed statement outlining the agreed installments and payment schedule. We believe that this proposed withdrawal plan is a fair and reasonable solution that allows you to settle your outstanding account balance while preserving our working relationship. If you require any clarification, have alternative suggestions, or need assistance, please do not hesitate to contact us immediately. At [Your Company Name], we greatly value your partnership and hope that we can resolve this matter promptly. We look forward to your prompt response and a swift resolution. Thank you for your attention to this critical matter. Sincerely, [Your Name] [Your Title] [Your Company Name]

[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Client's Name] [Client's Address] [City, State, ZIP Code] Subject: Failure to Pay Account and Proposed Withdrawal Dear [Client's Name], I hope this letter finds you in good health and high spirits. I am writing to address a matter of significant concern regarding your outstanding account balance with [Your Company Name]. The purpose of this letter is to inform you about the status of your account, the consequences of non-payment, and propose a withdrawal plan that could help resolve the issue amicably. As of today, your account remains delinquent with an outstanding balance of [amount]. Despite our previous attempts to communicate the importance of timely payment, your account has not been settled. This puts a strain on both our financial operations and the business relationship we have cultivated over the years. We value your business and want to find a mutually beneficial solution. Nonetheless, given the circumstances, we cannot continue to extend credit indefinitely. It is crucial that you pay the outstanding balance within [number of days] days from the date of this letter to avoid further complications. Failure to do so may result in the following: 1. Suspension of Services: In the event of non-payment, we regretfully inform you that we will be forced to suspend all services, including [specific services] that have been rendered but not yet settled. This suspension will remain in effect until your account is settled in full. 2. Late Payment Penalties: In accordance with our terms and conditions, a late payment fee of [amount] or [percent]% of the outstanding balance will be added to your account for every [time period] that passes without payment. These penalties are designed to cover administrative costs and to encourage prompt payment. 3. Legal Action: If the account remains unpaid after [number of days] days from this letter's date, we will be left with no option but to explore legal remedies to recover the outstanding amount. This may include filing a lawsuit to collect the debt, which could lead to additional legal expenses and potential damage to your credit history. We understand that unforeseen circumstances can arise, and that is why we propose a withdrawal plan to address your outstanding debt in manageable installments. We suggest the following terms for the proposed plan: 1. Monthly Installments: We propose dividing the outstanding balance into equal monthly installments over a period of [number of months]. This will ease the financial burden by spreading the payments out over time. 2. Payment Method: You may choose to make payments either via mail, online by accessing your client portal, or through direct bank transfers. Please let us know your preferred method, and we will provide you with the necessary details. 3. Confirmation of Agreement: To initiate the withdrawal plan, please sign and return a copy of this letter by [date] indicating your acceptance of the proposed terms. Upon receipt, we will send you a detailed statement outlining the agreed installments and payment schedule. We believe that this proposed withdrawal plan is a fair and reasonable solution that allows you to settle your outstanding account balance while preserving our working relationship. If you require any clarification, have alternative suggestions, or need assistance, please do not hesitate to contact us immediately. At [Your Company Name], we greatly value your partnership and hope that we can resolve this matter promptly. We look forward to your prompt response and a swift resolution. Thank you for your attention to this critical matter. Sincerely, [Your Name] [Your Title] [Your Company Name]