Banking & Collections

Promissory Notice: Default

Vicky Randolph Vicky Randolph
How To Use

This review list is provided to inform you about this document in question and assist you in its preparation. This default notice is necessary prior to filing suit for collection.

  1. Make multiple copies. Fax and mail copies to the defaulter. Put one in the file for turning over to your attorney for collection, unless you choose to do it prose, without a lawyer.

Promissory Notice: Default

_____________________________
_____________________________
_____________________________
_____________________________

Re: Promissory note dated _______________
Amount due as of this date: $_____________

Dated: ________________

Dear ________________________,

Please be advised that the undersigned is the holder and owner of a certain promissory note made by you dated ____________________, in the original principal amount of $__________ (________________________________________________________ & _____/100 dollars.)

You are hereby notified that you have defaulted under said note because you have failed to pay the note when due.

Therefore, pursuant to the terms of the note, the holder herewith accelerates the payment of the full remaining interest and principal. Demand is hereby made upon you for full payment of the entire balance due on said note in the amount of $__________ (_________________________________________________________ & _____/100 dollars), including interest accrued to date.

___________________________
Note Holder