Fairfax Virginia Sample Letter for Demand on Guarantor

• Category: Letters - Nonlegal - Demands
• State: Multi-State
• County: Fairfax
• 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 #[Account Number] Dear [Guarantor's Name], I hope this letter finds you well. I am writing in reference to the financial obligations you guaranteed for [Borrower's Name] under the terms of the [Agreement/Loan Contract], dated [Date of Agreement], pertaining to the property located at [Property Address], Fairfax, Virginia. As the guarantor, you agreed to assume financial responsibility for the loan in the event that the borrower defaults. Unfortunately, [Borrower's Name] has failed to fulfill their obligations according to the terms outlined in the agreement. This default was triggered by their failure to make the payments due since [Default Start Date]. Consequently, the outstanding balance on the account now totals $[Amount Due], including accrued interest and late fees. Please be aware that the creditor has made multiple attempts to contact the borrower and resolve the situation amicably. However, all efforts have proven unsuccessful, leaving us with no other option but to demand payment from you as the guarantor. We trust that you understand the gravity of your commitment and the legally binding nature of your role. To maintain transparency, we have attached a detailed statement outlining the outstanding balance, including any applicable charges and interest that have accrued. We request immediate payment of the total outstanding balance within [number of days] days from the date of this letter to avoid further legal action. Additionally, please be advised that if payment is not received within the specified timeframe, we will proceed with legal actions, which may include filing a lawsuit against you to recover the amount due. In the event that legal action is initiated, you will also be responsible for any associated legal fees and costs. We strongly urge you to contact our office at [Your Phone Number] or email us at [Your Email Address] to discuss a suitable resolution and arrange for the prompt payment of the outstanding balance. We believe that an amicable resolution is possible, and we would prefer to avoid the complications and expenses involved in litigation. Kindly note that all communications, including phone calls and emails, will be documented for future reference and may be used as evidence if necessary. Thank you for your prompt attention to this matter. We trust that you will take the necessary steps to fulfill your obligation as guarantor and rectify this situation promptly. Yours sincerely, [Your Name] [Your Title/Position] [Your Company Name] [Your Company Address] [City, State, ZIP Code]

[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 #[Account Number] Dear [Guarantor's Name], I hope this letter finds you well. I am writing in reference to the financial obligations you guaranteed for [Borrower's Name] under the terms of the [Agreement/Loan Contract], dated [Date of Agreement], pertaining to the property located at [Property Address], Fairfax, Virginia. As the guarantor, you agreed to assume financial responsibility for the loan in the event that the borrower defaults. Unfortunately, [Borrower's Name] has failed to fulfill their obligations according to the terms outlined in the agreement. This default was triggered by their failure to make the payments due since [Default Start Date]. Consequently, the outstanding balance on the account now totals $[Amount Due], including accrued interest and late fees. Please be aware that the creditor has made multiple attempts to contact the borrower and resolve the situation amicably. However, all efforts have proven unsuccessful, leaving us with no other option but to demand payment from you as the guarantor. We trust that you understand the gravity of your commitment and the legally binding nature of your role. To maintain transparency, we have attached a detailed statement outlining the outstanding balance, including any applicable charges and interest that have accrued. We request immediate payment of the total outstanding balance within [number of days] days from the date of this letter to avoid further legal action. Additionally, please be advised that if payment is not received within the specified timeframe, we will proceed with legal actions, which may include filing a lawsuit against you to recover the amount due. In the event that legal action is initiated, you will also be responsible for any associated legal fees and costs. We strongly urge you to contact our office at [Your Phone Number] or email us at [Your Email Address] to discuss a suitable resolution and arrange for the prompt payment of the outstanding balance. We believe that an amicable resolution is possible, and we would prefer to avoid the complications and expenses involved in litigation. Kindly note that all communications, including phone calls and emails, will be documented for future reference and may be used as evidence if necessary. Thank you for your prompt attention to this matter. We trust that you will take the necessary steps to fulfill your obligation as guarantor and rectify this situation promptly. Yours sincerely, [Your Name] [Your Title/Position] [Your Company Name] [Your Company Address] [City, State, ZIP Code]