Sample Demand Letter And Notice Of Acceleration And Repossession printable pdf download

Information & Instructions: Demand letter and notice of acceleration and repossession

The following form is a letter advising the debtor that the holder of the Note has

accelerated all of the monies due and payable on the Note.

The letter also makes a demand that the debtor assemble and return the collateral to the

holder so that it may be repossessed.

Form: Notice of acceleration and repossession

[Date]

[Name and address of debtors]

[Name and address of guarantors]

Regarding:

A Promissory Note and Security Agreement dated [Date] in the original principal

sum of $[Amount], payable to [Lender] in [number] monthly payments of $[Amount] commencing

on [date] and maturing on [date], the date of default.

Dear [names of debtors]:

My demand letter of [Date] offered you an opportunity to cure your default on the Promissory Note

and Security Agreement referenced above on or before [Date]. Please be advised that Creditor has

not received payment of the monies which you owe. Accordingly, you have failed to cure the

default referred to in the demand letter. My letter also informed you that if your default was not

cured, Creditor would accelerate the entire unpaid principal and accrued interest, together with

attorney's fees and expenses incurred in connection with collection of these amounts.

This letter represents formal notice that the indebtedness has been accelerated and that Creditor will

proceed with foreclosure on the property covered by the Promissory Note and Security Agreement.

Therefore, Creditor makes demand on you to return immediately the collateral described in the Note

and Security Agreement, or to allow Creditor to repossess the collateral. Creditor will contact you

and arrange a time for the return of the collateral, or you may deliver the collateral to Creditor at

[client's address].

As you were informed earlier, if the proceeds of the foreclosure sale are not sufficient to satisfy the

entire unpaid balance, accrued interest, attorney's fees, costs and expenses of sale, you will be liable

for the deficiency.

If you have any questions regarding this matter, please contact me.

Sincerely,

[Attorney’s name]

Sample Demand Letter And Notice Of Acceleration And Repossession