A Debt Collection Letter is a formal statement prepared by a lender and sent to a borrower with the request to handle the unpaid debt. A document of this kind usually serves as the last warning to the debtor who may have ignored attempts of the lender to communicate with them in the past. Consider drafting this letter before commencing legal proceedings to receive the money you owed as a courtesy to the debtor who may have a good explanation for the payment default and as an opportunity to avoid legal fees.
You can download a Debt Collection Letter Sample through the link below. To compose an effective letter that will not be ignored by the recipient, you need to state the purpose of your message - to remind the debtor about the money they owe you personally or to the organization you represent, indicate the deadline for the payment, confirm your intention to file a lawsuit against them if they do not comply with your demands, and record your contact information and bank account details for them to deposit the payment. Send the letter via certified mail to get proof of delivery.
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