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A demand payment letter puts an individual or company on notice that you're considering legal action against them. Most people hire a lawyer to write their demand letters, but you can write it yourself.
Even if you have the original note, it may be void if it was not written correctly. If the person you're trying to collect from didn't sign it and yes, this happens the note is void. It may also become void if it failed some other law, for example, if it was charging an illegally high rate of interest.
A person is also not prohibited from sending a demand letter via e-mail. However, most people continue to use certified mail. In some cases, you may want to use both options.
This demand letter should include the following:The date of the letter.The names of the borrower and lender.The original amount of the loan.The date of the promissory note and any reference number or account number it contains.The payment schedule that was agreed upon.More items...?
A person is also not prohibited from sending a demand letter via e-mail. However, most people continue to use certified mail. In some cases, you may want to use both options.