West Virginia 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 — Account No: [Account Number] Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you as the guarantor of the debt owed by [Debtor's Name] in relation to their account with [Creditor's Name]. As per the terms and conditions of the guarantee agreement, you have assumed the responsibility to fulfill the financial obligations of the debtor should they default. Regrettably, it has come to my attention that [Debtor's Name] has failed to make the required payments as stipulated in their agreement with [Creditor's Name]. Despite multiple attempts to communicate with [Debtor's Name] and provide them with opportunities to rectify their outstanding debt, the situation remains unresolved. According to the details provided by the creditor, the current outstanding balance owed by [Debtor's Name] amounts to $[Amount]. This unpaid amount includes the principal debt, accrued interest, and any applicable fees or charges as per the agreement. I have attached a copy of the statement provided by the creditor for your reference. As the guarantor, you are legally bound by the terms of the guarantee agreement to fulfill the debtor's obligations to the creditor. Therefore, I hereby demand that you immediately settle the outstanding debt owed by [Debtor's Name] to [Creditor's Name] in full, which amounts to $[Amount]. We request payment to be made within [Specify Timeframe, e.g., 14 days] from the date of this letter. Failure to comply with this demand will leave us with no choice but to pursue all available legal remedies to recover the debt, which may include filing a lawsuit against you to enforce your obligations as guarantor. Such legal actions can result in additional costs and may negatively impact your credit rating. We strongly advise you to consider this matter seriously and fulfill your obligations as a guarantor promptly. To facilitate the payment process, I kindly request that you contact me as soon as possible at [Your Phone Number] or [Your Email Address] to arrange the necessary payment method. Additionally, if you have any concerns or wish to discuss the matter further, please do not hesitate to reach out. We sincerely hope that it does not come to legal action, as it is always our preference to resolve matters amicably. Your immediate attention to this matter is greatly appreciated, and we anticipate a prompt resolution. Thank you for your prompt action. Yours sincerely, [Your Name] Enclosure: Copy of Creditor's Statement.

[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 — Account No: [Account Number] Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you as the guarantor of the debt owed by [Debtor's Name] in relation to their account with [Creditor's Name]. As per the terms and conditions of the guarantee agreement, you have assumed the responsibility to fulfill the financial obligations of the debtor should they default. Regrettably, it has come to my attention that [Debtor's Name] has failed to make the required payments as stipulated in their agreement with [Creditor's Name]. Despite multiple attempts to communicate with [Debtor's Name] and provide them with opportunities to rectify their outstanding debt, the situation remains unresolved. According to the details provided by the creditor, the current outstanding balance owed by [Debtor's Name] amounts to $[Amount]. This unpaid amount includes the principal debt, accrued interest, and any applicable fees or charges as per the agreement. I have attached a copy of the statement provided by the creditor for your reference. As the guarantor, you are legally bound by the terms of the guarantee agreement to fulfill the debtor's obligations to the creditor. Therefore, I hereby demand that you immediately settle the outstanding debt owed by [Debtor's Name] to [Creditor's Name] in full, which amounts to $[Amount]. We request payment to be made within [Specify Timeframe, e.g., 14 days] from the date of this letter. Failure to comply with this demand will leave us with no choice but to pursue all available legal remedies to recover the debt, which may include filing a lawsuit against you to enforce your obligations as guarantor. Such legal actions can result in additional costs and may negatively impact your credit rating. We strongly advise you to consider this matter seriously and fulfill your obligations as a guarantor promptly. To facilitate the payment process, I kindly request that you contact me as soon as possible at [Your Phone Number] or [Your Email Address] to arrange the necessary payment method. Additionally, if you have any concerns or wish to discuss the matter further, please do not hesitate to reach out. We sincerely hope that it does not come to legal action, as it is always our preference to resolve matters amicably. Your immediate attention to this matter is greatly appreciated, and we anticipate a prompt resolution. Thank you for your prompt action. Yours sincerely, [Your Name] Enclosure: Copy of Creditor's Statement.