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Letter of Demand - Outstanding Payment

This letter is a demand for payment of an outstanding loan. The borrower, Rizalie G. Padul, has failed to repay PHP138,510 of the original PHP200,000 loan according to the loan agreement dated December 20, 2017. The lender gives Rizalie 5 days to either pay the full amount due or set up a monthly payment plan of PHP7,000 per month until the debt is paid in full, with payments due on the 15th of each month. Failure to resolve the matter or make payments as agreed within 5 days will result in legal action being taken to recover the debt.

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erickson ang
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199 views

Letter of Demand - Outstanding Payment

This letter is a demand for payment of an outstanding loan. The borrower, Rizalie G. Padul, has failed to repay PHP138,510 of the original PHP200,000 loan according to the loan agreement dated December 20, 2017. The lender gives Rizalie 5 days to either pay the full amount due or set up a monthly payment plan of PHP7,000 per month until the debt is paid in full, with payments due on the 15th of each month. Failure to resolve the matter or make payments as agreed within 5 days will result in legal action being taken to recover the debt.

Uploaded by

erickson ang
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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May 9, 2019

Rizalie G. Padul
Datu Bago Extension , Barangay 5-A
Bangkerohan , Davao City

Dear Rizalie,

Letter of demand – outstanding payment

I am writing in reference to the Loan Agreement dated December 20, 2017 and you
have failed to return the remaining ONE HUNDRED THIRTY EIGHT THOUSAND FIVE
HUNDRED TEN PESOS (PHP138,510) out of TWO HUNDRED THOUSAND
(PHP200,000) loan as stipulated in the loan agreement.

I will give you an opportunity to pay the amount due before suit is filed; however,
payment must be made in person or with the assistance of the barangay To avoid legal
proceedings, full payment / partial payment of the total amount due must be received
within five (5) days after receipt of this letter. Payment scheme will be :

Choose a Payment Scheme

 Pay the full amount of ONE HUNDRED THIRTY EIGHT THOUSAND FIVE
HUNDRED TEN PESOS (PHP138,510).
<OR>
 Pay SEVEN THOUSAND PESOS (PHP 7,000) per month until the debt is fully paid,
the first installment to be paid on MAY 15, 2019 until the debt is fully paid.

o Payment Must be given every 15th Day of the Month and Partial Payment
will not be accepted.

o Delay of Payment will forfeit the said monthly agreement and will
proceed to LEGAL ACTION .

If this matter is not resolved within five (5) days, I reserve the right to commence legal
proceedings to recover the debt without further notice to you and this letter may be
tendered in court as evidence of your failure to pay. Legal action may result in you
having to pay legal costs, and Fees.

Thank You and God Bless

Yours sincerely,

Vimar M. Badion

RECEIVED BY :
DATE:

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