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Final Demand Letter for Debt Settlement

This letter is a final demand for payment of 20,000 Philippine pesos owed by the recipient. The debt originated from an agreement made with a now deceased individual for the purchase of a property, though the sale was later revoked on condition of repayment. Despite many years passing and the seller's death, the debt remains unpaid. The letter allows 4 months to satisfy the obligation in full or settle on an installment plan, and waives accrued interest, in an effort to avoid litigation.

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299 views1 page

Final Demand Letter for Debt Settlement

This letter is a final demand for payment of 20,000 Philippine pesos owed by the recipient. The debt originated from an agreement made with a now deceased individual for the purchase of a property, though the sale was later revoked on condition of repayment. Despite many years passing and the seller's death, the debt remains unpaid. The letter allows 4 months to satisfy the obligation in full or settle on an installment plan, and waives accrued interest, in an effort to avoid litigation.

Uploaded by

Al
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
  • Final Demand to Pay: This letter formally demands payment of a specified outstanding amount on behalf of the client's agents, warning of potential legal action.

11 July 2020

FINAL DEMAND TO PAY

To:____________________
Address

_____________

I write on behalf of my clients, heirs ________________, regarding their


desire to collect from you the amount of Twenty Thousand Pesos (Php 20,000).
This indebtedness arose from the agreement you’ve had with the late _______
which served as the purchase price of the Deed of Sale of your property duly
executed. On account of _______ goodwill, you asked that the Sale be revoked to
which the former agreed on the condition that you will return the
aforementioned amount. However, despite the lapse of many years and the
unfortunate death of ______, you have yet to fulfill your obligation to pay.

In line with this, kindly consider this letter as the final demand for you to
fulfill your obligation. This notwithstanding, we understand that the current
pandemic gives your family financial challenges or distraint, thus we allow you
to satisfy your obligation or otherwise settle your indebtedness within the period
of 4 months or until _________. You may even settle your debt on installment
basis. It is also upon the goodwill of my clients that they opted to waive
whatever interest you may have incurred through the years.

I hope that you will give this matter your preferential attention to avoid
the inconvenience of litigation.

Yours Truly,

__________________________

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