South 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 Code] [Email Address] [Phone Number] [Date] [Guarantor's Name] [Guarantor's Address] [City, State, ZIP Code] Subject: Demand for Payment under Guaranty Agreement Dear [Guarantor's Name], I hope this letter finds you well. I am writing on behalf of [Creditor's Name], the creditor to whom you have provided a guarantee for the credit extended to the primary debtor, [Debtor's Name]. It has come to our attention that [Debtor's Name] has defaulted on their payment obligations, leaving a significant outstanding balance of [Amount Owed]. According to the terms and conditions of the Guaranty Agreement executed on [Date] between you and [Creditor's Name], you have obligated yourself as a guarantor for the debt owed by [Debtor's Name]. As a result, we are now demanding the immediate payment of the total outstanding balance in the amount of [Amount Owed]. We kindly request that you remit the full payment within [Number of Days] days from the receipt of this letter. The preferred method of payment is [Specify Payment Method]. Please make the payment payable to [Creditor's Name] and forward it to our address as mentioned above. Failure to fulfill your obligations as a guarantor within the specified timeframe will leave us with no choice but to pursue legal remedies available to us, including initiating a lawsuit against you. It is our hope that such measures will not be necessary and that you will take prompt action to settle this debt. Please note that any delay or failure to comply may result in adverse consequences of your credit history and could potentially lead to the pursuit of additional damages and legal costs. We strongly advise you to consult with legal counsel to fully understand your rights and responsibilities concerning this matter. To facilitate the resolution of this dispute and to avoid any unnecessary litigation expenses, we are open to discussing alternative payment arrangements or negotiating a settlement amount. If you wish to reconcile the debt or discuss any concerns you may have, we encourage you to contact our office at [Your Phone Number] or via email at [Your Email Address]. We expect full compliance with this demand within the specified timeframe to prevent further actions. Your prompt attention to this matter would be greatly appreciated. Thank you for your immediate action in this regard. We trust that you will take this matter seriously and honor your obligations as a guarantor. Yours sincerely, [Your Name] [Your Title] [Business 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 under Guaranty Agreement Dear [Guarantor's Name], I hope this letter finds you well. I am writing on behalf of [Creditor's Name], the creditor to whom you have provided a guarantee for the credit extended to the primary debtor, [Debtor's Name]. It has come to our attention that [Debtor's Name] has defaulted on their payment obligations, leaving a significant outstanding balance of [Amount Owed]. According to the terms and conditions of the Guaranty Agreement executed on [Date] between you and [Creditor's Name], you have obligated yourself as a guarantor for the debt owed by [Debtor's Name]. As a result, we are now demanding the immediate payment of the total outstanding balance in the amount of [Amount Owed]. We kindly request that you remit the full payment within [Number of Days] days from the receipt of this letter. The preferred method of payment is [Specify Payment Method]. Please make the payment payable to [Creditor's Name] and forward it to our address as mentioned above. Failure to fulfill your obligations as a guarantor within the specified timeframe will leave us with no choice but to pursue legal remedies available to us, including initiating a lawsuit against you. It is our hope that such measures will not be necessary and that you will take prompt action to settle this debt. Please note that any delay or failure to comply may result in adverse consequences of your credit history and could potentially lead to the pursuit of additional damages and legal costs. We strongly advise you to consult with legal counsel to fully understand your rights and responsibilities concerning this matter. To facilitate the resolution of this dispute and to avoid any unnecessary litigation expenses, we are open to discussing alternative payment arrangements or negotiating a settlement amount. If you wish to reconcile the debt or discuss any concerns you may have, we encourage you to contact our office at [Your Phone Number] or via email at [Your Email Address]. We expect full compliance with this demand within the specified timeframe to prevent further actions. Your prompt attention to this matter would be greatly appreciated. Thank you for your immediate action in this regard. We trust that you will take this matter seriously and honor your obligations as a guarantor. Yours sincerely, [Your Name] [Your Title] [Business Name]