Hennepin Minnesota Sample Letter for Demand on Guarantor

• Category: Letters - Nonlegal - Demands
• State: Multi-State
• County: Hennepin
• Control #: US-0364LR
• Format: Word; Rich Text

Description

Sample Letter for Demand on Guarantor Sample Letter for Demand on Guarantor in Hennepin County, Minnesota: [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 Guaranty Agreement Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you as the guarantor of a loan agreement entered into between [Borrower's Name] and [Lender's Name], in which you agreed to act as the guarantor for the loan. I regret to inform you that [Borrower's Name] has defaulted on their loan payments, as per the terms of the loan agreement. The outstanding principal amount on the loan currently stands at $[Amount]. Despite several attempts to contact the borrower and resolve the matter, no payment has been received to date. As a result of the borrower's default, I am exercising my rights under the Guaranty Agreement and hereby demand that you fulfill your obligations as the guarantor. Therefore, I kindly request immediate payment of the outstanding principal amount of $[Amount], along with any accrued interest, late fees, penalties, and other charges as per the terms of the Guaranty Agreement. Please be advised that your failure to fulfill your obligations as the guarantor within [Number of Days] days from the date of this letter will leave me with no choice but to pursue legal action against you to recover the outstanding amount. This may result in additional costs, including but not limited to attorney fees and court expenses, for which you will be held accountable. I understand that unforeseen circumstances may arise, making it difficult to fulfill your obligations. If this is the case, I urge you to contact me immediately to discuss alternative repayment arrangements. I am open to working with you in order to reach a mutually beneficial solution. To ensure a swift resolution, please remit payment or respond to this letter by [Deadline for Payment/Response]. Payments should be made in the form of a certified check or money order payable to [Your Name] and sent to the address mentioned above. I trust that you will treat this matter with the urgency and seriousness it deserves. Please consider this letter as my final attempt to resolve the issue amicably before escalating it further. Thank you for your prompt attention to this matter. If you have any questions or require any further information, please do not hesitate to contact me at the above-mentioned contact details. Yours sincerely, [Your Name]

Sample Letter for Demand on Guarantor in Hennepin County, Minnesota: [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 Guaranty Agreement Dear [Guarantor's Name], I hope this letter finds you well. I am writing to you as the guarantor of a loan agreement entered into between [Borrower's Name] and [Lender's Name], in which you agreed to act as the guarantor for the loan. I regret to inform you that [Borrower's Name] has defaulted on their loan payments, as per the terms of the loan agreement. The outstanding principal amount on the loan currently stands at $[Amount]. Despite several attempts to contact the borrower and resolve the matter, no payment has been received to date. As a result of the borrower's default, I am exercising my rights under the Guaranty Agreement and hereby demand that you fulfill your obligations as the guarantor. Therefore, I kindly request immediate payment of the outstanding principal amount of $[Amount], along with any accrued interest, late fees, penalties, and other charges as per the terms of the Guaranty Agreement. Please be advised that your failure to fulfill your obligations as the guarantor within [Number of Days] days from the date of this letter will leave me with no choice but to pursue legal action against you to recover the outstanding amount. This may result in additional costs, including but not limited to attorney fees and court expenses, for which you will be held accountable. I understand that unforeseen circumstances may arise, making it difficult to fulfill your obligations. If this is the case, I urge you to contact me immediately to discuss alternative repayment arrangements. I am open to working with you in order to reach a mutually beneficial solution. To ensure a swift resolution, please remit payment or respond to this letter by [Deadline for Payment/Response]. Payments should be made in the form of a certified check or money order payable to [Your Name] and sent to the address mentioned above. I trust that you will treat this matter with the urgency and seriousness it deserves. Please consider this letter as my final attempt to resolve the issue amicably before escalating it further. Thank you for your prompt attention to this matter. If you have any questions or require any further information, please do not hesitate to contact me at the above-mentioned contact details. Yours sincerely, [Your Name]