New Mexico 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 Code] [Email Address] [Phone Number] [Date] [Guarantor's Name] [Guarantor's Address] [City, State, Zip Code] Subject: Demand for Payment as Guarantor of [Borrower's Name] Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you today in regard to your role as a guarantor for [Borrower's Name], in relation to the [type of agreement or contract] entered into on [date]. As you may be aware, [Borrower's Name] has failed to fulfill their obligations under the aforementioned agreement and has defaulted on their payment for an outstanding amount of $[amount owed]. Due to this default, I am invoking the guarantee you provided as the guarantor. As a guarantor, you voluntarily assumed the responsibility of ensuring repayment for any debts or obligations incurred by the borrower. It is clear that the borrower has not met their payment obligations within the predetermined timeframe, thus triggering the guarantor's liability. I demand that you, as the guarantor, immediately fulfill your obligation by paying the outstanding amount of $[amount owed]. Please make payment in full within [specific time frame, e.g., 14 days] from the date of this letter to the following account: Bank Name: [Name of Bank] Account Holder: [Your Name] Account Number: [Your Account Number] Routing Number: [Bank's Routing Number] Failure to fulfill your obligation as the guarantor within the specified time frame will leave me with no choice but to pursue all legal remedies available to collect the outstanding amount. This may include initiating legal proceedings against both the borrower and yourself, seeking compensation for the unpaid debt, court costs, and any associated damages. Please note that any delay or failure to comply with this demand will be considered a breach of the guarantor agreement and may result in the negative reporting of this incident to appropriate credit bureaus. This could have a lasting negative impact on your creditworthiness. I strongly urge you to address this matter promptly and amicably to avoid escalating the situation further. If you have any questions or concerns regarding this demand, please do not hesitate to contact me at [your phone number] or [your email address]. Thank you for your immediate attention to this matter. I trust your prompt action will resolve this issue without further complications. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Guarantor's Name] [Guarantor's Address] [City, State, Zip Code] Subject: Demand for Payment as Guarantor of [Borrower's Name] Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you today in regard to your role as a guarantor for [Borrower's Name], in relation to the [type of agreement or contract] entered into on [date]. As you may be aware, [Borrower's Name] has failed to fulfill their obligations under the aforementioned agreement and has defaulted on their payment for an outstanding amount of $[amount owed]. Due to this default, I am invoking the guarantee you provided as the guarantor. As a guarantor, you voluntarily assumed the responsibility of ensuring repayment for any debts or obligations incurred by the borrower. It is clear that the borrower has not met their payment obligations within the predetermined timeframe, thus triggering the guarantor's liability. I demand that you, as the guarantor, immediately fulfill your obligation by paying the outstanding amount of $[amount owed]. Please make payment in full within [specific time frame, e.g., 14 days] from the date of this letter to the following account: Bank Name: [Name of Bank] Account Holder: [Your Name] Account Number: [Your Account Number] Routing Number: [Bank's Routing Number] Failure to fulfill your obligation as the guarantor within the specified time frame will leave me with no choice but to pursue all legal remedies available to collect the outstanding amount. This may include initiating legal proceedings against both the borrower and yourself, seeking compensation for the unpaid debt, court costs, and any associated damages. Please note that any delay or failure to comply with this demand will be considered a breach of the guarantor agreement and may result in the negative reporting of this incident to appropriate credit bureaus. This could have a lasting negative impact on your creditworthiness. I strongly urge you to address this matter promptly and amicably to avoid escalating the situation further. If you have any questions or concerns regarding this demand, please do not hesitate to contact me at [your phone number] or [your email address]. Thank you for your immediate attention to this matter. I trust your prompt action will resolve this issue without further complications. Yours sincerely, [Your Name]