Contra Costa California Sample Letter for Demand on Guarantor

• Category: Letters - Nonlegal - Demands
• State: Multi-State
• County: Contra Costa
• 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 on Guarantor Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you as the guarantor for the [Type of Loan/Agreement] entered into between [Borrower's Name] (hereinafter referred to as the "Borrower") and [Creditor/Lender's Name]. As stated in the agreement, you willingly provided a guarantee for the aforementioned loan and agreed to be held liable in the event of default by the Borrower. Regrettably, it has come to my attention that the Borrower has defaulted on their obligations under the loan agreement. Despite repeated attempts to rectify the situation and facilitate alternative payment arrangements, the Borrower has failed to meet their payment obligations within the agreed-upon time frame. Accordingly, under the terms and conditions outlined in the loan agreement, I hereby demand payment of the outstanding amount, which currently stands at $[Amount Due]. This amount comprises the principal loan balance, accrued interest, late fees, and any other related charges specified in the loan agreement. Please be advised that failure to remit payment within [X days] from the date of this letter will leave us no choice but to pursue legal actions against both the Borrower and yourself, in accordance with the applicable laws and provisions governing loan agreements in Contra Costa County, California. To ensure prompt resolution and prevent any unnecessary escalation, I urge you to fulfill your obligations as the guarantor by remitting the full payment to [Payment Address] or by contacting me directly at the phone number or email address provided above to discuss suitable payment arrangements. Please note that any delay or failure to address this demand for payment may result in adverse consequences, such as additional costs and legal expenses, which will be the sole responsibility of the Borrower and yourself as the guarantor. We fully understand that unforeseen circumstances can occur, leading to financial difficulties. If you are experiencing any financial hardship, I encourage you to contact us immediately to discuss viable alternatives or potential solutions that can aid us in reaching a mutually agreeable resolution. I trust that you comprehend the gravity of this matter and will take the necessary actions to fulfill your financial responsibility promptly. We strongly value our business relationships, and we believe that by resolving this issue efficiently, we can uphold our shared commitment to financial integrity. Thank you for your immediate attention to this matter, and I look forward to hearing from you within the stipulated timeline. Should you require any documentation or additional information to ascertain the validity of this demand, kindly reach out to me as soon as possible. Yours sincerely, [Your Name] [Your Title/Position] [Company/Organization 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 on Guarantor Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you as the guarantor for the [Type of Loan/Agreement] entered into between [Borrower's Name] (hereinafter referred to as the "Borrower") and [Creditor/Lender's Name]. As stated in the agreement, you willingly provided a guarantee for the aforementioned loan and agreed to be held liable in the event of default by the Borrower. Regrettably, it has come to my attention that the Borrower has defaulted on their obligations under the loan agreement. Despite repeated attempts to rectify the situation and facilitate alternative payment arrangements, the Borrower has failed to meet their payment obligations within the agreed-upon time frame. Accordingly, under the terms and conditions outlined in the loan agreement, I hereby demand payment of the outstanding amount, which currently stands at $[Amount Due]. This amount comprises the principal loan balance, accrued interest, late fees, and any other related charges specified in the loan agreement. Please be advised that failure to remit payment within [X days] from the date of this letter will leave us no choice but to pursue legal actions against both the Borrower and yourself, in accordance with the applicable laws and provisions governing loan agreements in Contra Costa County, California. To ensure prompt resolution and prevent any unnecessary escalation, I urge you to fulfill your obligations as the guarantor by remitting the full payment to [Payment Address] or by contacting me directly at the phone number or email address provided above to discuss suitable payment arrangements. Please note that any delay or failure to address this demand for payment may result in adverse consequences, such as additional costs and legal expenses, which will be the sole responsibility of the Borrower and yourself as the guarantor. We fully understand that unforeseen circumstances can occur, leading to financial difficulties. If you are experiencing any financial hardship, I encourage you to contact us immediately to discuss viable alternatives or potential solutions that can aid us in reaching a mutually agreeable resolution. I trust that you comprehend the gravity of this matter and will take the necessary actions to fulfill your financial responsibility promptly. We strongly value our business relationships, and we believe that by resolving this issue efficiently, we can uphold our shared commitment to financial integrity. Thank you for your immediate attention to this matter, and I look forward to hearing from you within the stipulated timeline. Should you require any documentation or additional information to ascertain the validity of this demand, kindly reach out to me as soon as possible. Yours sincerely, [Your Name] [Your Title/Position] [Company/Organization Name] (if applicable)