______________ _____, ________ TO:
COLLECTION DEMAND LETTER
This notice is in regards to the following agreement:
You are hereby notified that due to your failure to pay, you are now in breach of contract. The amount of monies owed at this time is $.
It is necessary that full payment for these monies owed be recieved within days from the date of this notice, or the term for payment of your liability will be accelerated and the entire principle balance will become immediately due and payable and proper legal action will be taken to enforce the payment thereof.
You are held liable, upon default, for all costs and reasonable attorneys fees incurred in collection of this debt. Please be aware that non-cooperation of this letter will result in legal action.
If a payment has already been forwarded, please disregard this letter; otherwise please forward your payment immediately in order to avoid default.