Oklahoma Sample Letter for Demand on Guarantor

• Category: Letters - Nonlegal - Demands
• State: Multi-State
• Control #: US-0364LR
• Format: Word; Rich Text

Description

Sample Letter for Demand on Guarantor

Sample Letter for Demand on Oklahoma Guarantor [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Guarantor’s Name] [Guarantor’s Address] [City, State, ZIP] Subject: Demand for Payment — Guarantee Agreement Dear [Guarantor’s Name], I hope this letter finds you well. I am writing to you as the guarantor of [Debtor’s Name] who has failed to honor their financial obligations under the [Loan Agreement/Contract/Lease Agreement] signed on [Date]. As per the terms of the agreement, you assumed the responsibility of guaranteeing [Debtor’s Name]'s financial obligations regarding [Brief Description of the Transaction/Loan/Contract]. Despite repeated attempts to contact and remind [Debtor’s Name] regarding the due payments, they have consistently failed to make the required payments. Due to their default, I am forced to exercise my right under the Guarantee Agreement, and I demand immediate payment of the outstanding amount of [Amount in Numbers and Words], which includes the principal amount, interest, and any applicable late fees as per the signed agreement. Enclosed with this letter, you will find copies of the relevant documents, including the signed Guarantee Agreement, withdrawal notices, and the outstanding payment history. I request you to thoroughly review these documents to verify the validity of this demand. Please be aware that, in cases of default, Oklahoma law allows the creditor to pursue all available legal remedies, including initiating legal proceedings against the guarantor to collect the outstanding debt. It is crucial to understand that the Guarantee Agreement you entered into provides for the same, and you may be held responsible for any associated costs and fees incurred during the collection process. To avoid further legal actions or complications, I strongly urge you to remit the outstanding amount within [mention a specific timeframe, e.g., 10 business days] from the date of this letter. Kindly arrange for payment through [state acceptable payment methods, such as check, bank transfer, or any other preferred method]. In the event of failure to comply, I would have no choice but to initiate legal proceedings against you, seeking the full amount owed, along with any additional legal costs. Such actions could potentially result in negative consequences for your credit standing and overall financial status. I believe that it is in both parties' best interest to resolve this matter promptly and amicably. Therefore, I kindly request you to treat this demand with the utmost urgency and contact me by [mention preferred communication method] within [state a specific timeframe, e.g., five business days] to discuss the payment arrangement or propose an alternate resolution. Please note that any attempts to avoid or delay this obligation will be considered a breach of the Guarantee Agreement and dealt with accordingly. Thank you for your immediate attention to this matter. I look forward to your prompt response. Sincerely, [Your Name] Enclosure: — Copy of signed GuaranteAgreementen— - Withdrawal Notices — Outstanding payment history