A sample letter demanding payment for default on a contract. Be sure to write formal business letters in the proper business letter format.
This letter is our formal notice that you are default on your contract to repay [Exact Amount Due], which was issued [Date of Issue]. If this amount is not paid within the ten business days of this letter's date, we will be forced to seek legal counsel and exercising our rights to enforce collection of amount duet. This could include not only legal proceedings against you but also any interest and legal expenses.
We want only to receive the money that is owed to us. This amount has been overdue since [Date]. Please contact us as soon as possible to discuss how repayment will occur or if you have any questions or concerns about this owed amount.