Exercise Extreme Caution when using many of our free forms - or any legal material. While they may provide general ideas on format & content, validity requirements can and do vary greatly from state to state. Many MUST be Properly Modified for your own location and circumstances. (Hint: If in doubt it's usually safer to include unneeded clauses than to leave out necessary ones. . . . but it's even safer to consult a competent source or use current, state specific ones like ours mentioned below.) Also, we urge people (and lawyers too) to read our Relying On Legal Info FAQ.

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NOTICE OF DEFAULT

Date:

To:

Re:

Please be advised that the undersigned is the holder of a certain promissory note made by you dated ____________________, in the original principal amount of $________________.

You are hereby notified that you have defaulted under said note because you have failed to pay the installment due ____________________, 20__, in the amount of $_______________.

Therefore, demand is hereby made upon you for full payment of the entire balance due on said note in the amount of $_____________, including interest accrued to date.

If the entire amount due is not received on or before _____________________, I shall instruct legal counsel to commence legal proceedings against you.

Attention to the note, which obligates you to pay in addition to the principal balance and interest, costs of collection, including attorney's fees.

Your prompt attention to the foregoing is anticipated.

Very truly yours,

____________________________

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Relevant Laws We STRONGLY SUGGEST Checking Out
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