Los Angeles California 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 — Loan Agreement [Loan Agreement Number] Dear [Guarantor's Name], RE: Demand for Payment as Guarantor — Loan Agreement [Loan Agreement Number] I hope this letter finds you in good health and high spirits. I am writing to you as a guarantor under the above-mentioned loan agreement between [Borrower's Name] and [Lender's Name], for which you provided a personal guarantee. I regret to inform you that the borrower has defaulted on the loan, and as a result, we are now turning to you for the payment. According to the terms of the loan agreement, you agreed to act as the guarantor and assumed personal liability for the borrower's obligations in the event of non-payment. We have made multiple attempts to contact the borrower and have exhausted all possible means to obtain payment from them directly. As per the loan agreement, we hereby demand that you fulfill your obligations as the guarantor and immediately settle the outstanding balance of $[Amount Owed], plus any accrued interest, late fees, and applicable costs, which currently stands at $[Total Amount Owed]. You are required to make this payment within [Number of Days], starting from the receipt of this letter to avoid further legal actions. Please remit the payment to the following account: [Bank Name] [Account Name] [Account Number] [Routing Number] Upon receiving the full payment, we will consider this loan agreement officially closed, and the borrower's and your responsibilities will be fully discharged. In the event that you fail to adhere to this demand within the stipulated timeframe, we will have no choice but to pursue legal action to recover the amount owed. This may result in a negative impact on your credit rating, potential legal costs, and other applicable consequences. If you believe there are extenuating circumstances or any information that could affect your ability to meet this demand, please contact our office immediately to discuss the matter further. We are willing to listen and explore potential alternatives. Please treat this matter with the utmost urgency, as continued delay or non-compliance will leave us with no choice but to escalate the situation legally. We expect your prompt response and compliance with this demand. Thank you for your immediate attention to this matter. Yours sincerely, [Your Name] [Your Title] [Company Name]
Los Angeles California Sample Letter for Demand on Guarantor
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