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payment demand letter for promissory note

Sample Demand For Payment of Promissory Note Letter

by emily on March 5, 2012

From:
[Your Name, & Address here]

 

To:

[Recipient Name & address here]

[Date here]

Dear [name],
We acknowledge the receipt of the promissory note sent by you, dated [date].

We want payment against the due balance of principal and accumulated interest in the amount of $[total amount].

We look forward to receive the full payment by [deadline]. In case you cannot make the payment before this date, please inform us immediately.

Thank you for your prompt attention regarding this matter.

 

Regards,

[Your name]
Encl: [Enclosures List here]

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Letter of Default on Promissory Note

by emily on July 17, 2012

LETTER OF DEFAULT ON PROMISSORY NOTE

 

 

Date: _

 

To: _

 

 

Reference is made to a certain promissory note under date of _, 20_, in the original amount of $_. You have defaulted under said note in that the installment due on _, 20_, in the amount of $_ is outstanding.

Accordingly, demand is hereby made upon you for full payment of the entire balance on said note in the amount of $_, including accrued interest to date.

In the event the entire balance is not paid within the next ten days, I shall refer this matter to an attorney resulting in additional costs of collection with interest and fees.

 

Warm Regards,

_____________________________

Letter of Default on Promissory Note

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Sample Promissory Note, Fixed Term, Variable Rate of Interest Letter

by emily on March 10, 2012

Promissory Note, Fixed Term, Variable Rate of Interest, Interest Only Until Maturity, Acceleration of Payment In The Event Of Default in Payment

PROMISSORY NOTE -

 

[Loan Amount]                                                                                 Due: [Loan Maturity Date]

 

FOR VALUE RECEIVED, the undersigned, [Borrower name], the ‘Borrower’ hereby acknowledges itself grateful to [Lender name], the ‘Lender’, and swears to pay to the Lender the principal sum of [loan amount] in official money of [USA currency] with interest thereon at a changeable rate per annum equivalent to the interest rate commonly known as the ‘prime rate’ of interest declared from time to time by [Bank Name of Lender] as a reference rate then in effect for concluding interest rates on commercial loans plus [Amount above prime rate], calculated and due monthly, not in advance, on the 1st day of each and every month, and both before and after demand, maturity, non-payment and evaluation until paid.

This is to for that:

The principal sum and interest shall be outstanding and payable as follows:

1.       Interest shall be paid on monthly basis on the last business day of each month; and

2.       The total principal amount and all interest accumulated shall be paid on [Loan Maturity Date].

In the event of non-payment of principal or, interest mentioned in this promissory note, the whole remaining principal amount, and all interest accrued shall, at the decision of the Lender, becomes due immediately and payable without a notice.

The Lender may allot all of its right, title and interest in, to and under this promissory note. All required payments shall be made by the Borrower with no right of set-off or counterclaim.

 

Dated: [date]

…………………………………………..                  ………………………………………….

Witness                                                                        Seller Name

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Sample Promissory Note Letter

by emily on March 10, 2012

Promissory Note, Fixed Term, Fixed Rate of Interest, Interest Only Until Maturity, Acceleration of Payment In The Event Of Default in Payment

PROMISSORY NOTE -

 

[Loan Amount]                                                                                  Due: [Loan Maturity Date]

 

FOR VALUE RECEIVED, the undersigned, [Borrower name], the ‘Borrower’, hereby acknowledges itself thankful to [Lender name], the ‘Lender’ and agrees to pay to the Lender the principal sum of [loan amount] in legal money of [USA currency] with interest thereon at the rate of [interest rate] per annum, computed and owed monthly, not in advance, on the 1st day of each and every month, beginning [first date of loan payment] and, both before and after demand, maturity, failure to pay and judgment until paid.

The principal figure and interest shall be outstanding and payable as follows:

1.       Interest shall be paid on monthly basis, on the last business day of each month; and

2.       The complete principal amount and all interest accumulated shall be paid on [Loan Maturity Date].

In the event of failure to pay the principal or interest under this promissory note, the whole left over principal amount and all interest accrued shall, at the decision of the Lender, immediately becomes outstanding and payable without demand.

The Lender may allocate all of its right, title and interest in, to and in this promissory note. All required payments shall be made by the Borrower with no right of set out or counterclaim

Dated: [date]

…………………………………………..                  ………………………………………….

Witness                                                                        Seller Name

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Sample Promissory Note Payable on Demand No Interest Principal Payable on Maturity Letter

by emily on March 7, 2012

Promissory Note, Payable on Demand, No Interest, Principal Payable on Maturity

 

DEMAND PROMISSORY NOTE -

 

[Loan Amount]                                                                           Due:  ON DEMAND

 

FOR VALUE RECEIVED, the undersigned, [name of the borrower], the ‘Borrower’, acknowledges itself obliged to [Lender name], the ‘Lender’ and pledges to pay ‘ON DEMAND’ to the Lender or, as otherwise directed by the lender in writing, the principal amount of $[loan amount] in legal money of [Currency of the USA] without any interest.

The Lender may allocate all of its right, title and interest in, to and as part of this promissory note. All the payments to be made hereunder shall be made by the Borrower without any right of set-off or accusation.

 

Dated: [document date]

 

…………………………………………..                  ………………………………………….

Witness                                                                        Seller Name

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Sample Promissory Note Demand or Installment Letter

by emily on March 7, 2012

PROMISSORY NOTE

For Value Received, [Borrower name], the ‘Borrower’, hereby swears to pay [Lender name], the ‘Lender’ the sum of $[amount] (‘Principal’) with interest accumulated in accordance with the interest and payment schedules herein.

INTEREST -
Interest on the due segment of the Principal shall grow at the rate of [interest rate] % per annum from the date of this note.

PAYMENT-
The Principal and interest shall be paid to the Lender in legalized money of the United States [payment plan].

Upon non-payment by Borrower on any scheduled payment of principal or interest, the whole Principal amount and all added interest shall, at the choice of the Lender, become payable immediately.
The Borrower may at any time and with no consent or fine, prepay this Note in full or in part, provided that Borrower accepts that such payment will be applied to the installments mentioned above in reverse maturity order.
The Borrower agrees to pay any and all collection costs that include realistic attorney’s fees, in case such action is required to gratify or leave whole or a part of this Note.

For [Borrower name]:

________________________________________ Date: _______________

Name: __________________________________ Title: _______________

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Sample Notice of Default on Promissory Note Letter

by emily on March 7, 2012

From:
[Your Name, & Address here]

 

To:

[Recipient Name & address here]

[Date here]

Dear [name],

 

We have your promissory note dated [date of note] in the amount of $[original amount].

We would like to inform you that you have defaulted on this note to pay the following [amounts/installments]:

- [list past due payments here] -

So, we demand payment of [total due amount] from you.

If we do not receive our payment by [payment deadline], we will be forced to recover this amount at your expense, as mentioned in the promissory note.
Regards,

[Your name]

Encl: [Enclosures List here]

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Sample Demend Promissory Note Letter

by emily on March 2, 2012

Promissory Note, Payable on Demand, Variable Interest, Principal Payable on Maturity

 

 

DEMAND PROMISSORY NOTE

 

 

 

[Loan Amount]                                                                           Due:  ON DEMAND

 

 

 

FOR VALUE RECEIVED, the undersigned, [borrower name], the ‘Borrower’, hereby acknowledges itself obliged to [Lender name], the ‘Lender’, and swears to pay ON DEMAND to the Lender or, as otherwise instructed in writing by the Lender, the principal sum of $[loan amount] in legal money of [currency of the United States of America] with interest at a changeable rate per annum equivalent to the interest rate commonly known as the ‘prime rate’ of interest declared from time to time by [Bank name of the Lender] as a reference rate then in effect for concluding interest rates and amount more than prime rate, calculated and owed monthly, not in advance, on the [day] of each and every month, beginning (first loan payment date), and both before and after claim, maturity, non-payment and judgment until paid.

 

 

The Lender may allot all of its right, title and interest in, to and under this promissory note. The payments required to be made within shall be made by the Borrower with no any right of set-off or counterclaim.

 

 

Dated: [document date]

 

 

 

 

…………………………………………..                  ………………………………………….

Witness                                                                        Seller Name

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