What is a Demand Letter for Payment of Debt?
A demand letter for payment of debt is a formal notice that asks for money, possession of assets, or action on a legal matter. It is most commonly used when requesting payment for an overdue amount. A demand letter is usually the last attempt to reach an agreement with another party before taking legal action.
To use this complimentary template, simply fill out the blank spaces with the relevant information, print out the document, and sign below.
We are writing for and on behalf of our client __________________________, regarding your outstanding payable account in connection with _________________________________.
Based on records, you have failed to pay the outstanding liability amounting to _______________
(Php _____________.00) Pesos, which amount represent the __________________, a summary of which is herein attached. Please take note that the account has already been long outstanding and is now seriously past due.
In view of the foregoing, therefore, DEMAND is hereby made to pay the total sum of (Php ________.00) Pesos, inclusive of _______ ( _______%) Attorney’s fees based on the above-stated amount, within __________ (___) days from the date of this letter.
Should you fail to comply within the period given, we shall then be constrained to proceed to the enforcement of our client’s rights before the appropriate judicial tribunal.
Considering that the above-said account was endorsed to us, please course your payment and/or arrangement thereof through our office at, or you may contact us at ____________________.
We trust that you will this matter your preferential attention.
Very truly yours,
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