RE: Demand for Payment on Demand Promissory Note

Dear :

This letter relates to the promissory note dated , of which you are the maker, in the original principal amount of $ (the "Note"). I amMy company is the current holder of the Note.

In accordance with the Note, Iwe hereby make demand for $, which is the full unpaid balance of the Note together with all accrued interest, to be paid by .

If Iwe do not receive your payment for $ by , Iwe will notify myour attorneys to begin legal proceedings to collect this amount. You will be responsible for all collection costs, including attorneys' fees, court costs, and interest.

If you have any questions regarding your account, please contact at .


Demand for Payment on Demand Promissory Note - Free Template

Make sure your demand for payment is worded right when it's time for the borrower to pay you back. Ensure timely repayment of a loan with a demand promissory note.

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What's a demand for payment on demand promissory note?

If you lent money under a demand promissory note, the borrower doesn’t need to pay it back until the lender asks for it in a written notice. That notice is a promissory note demand for payment or a demand promissory note collection letter. As a lender, you want to ensure your payment demand is worded correctly and helps you collect the full amount of money you lent.

Here's the information you'll need to have handy to complete your demand for payment on demand promissory note:
- Who it's going to : Know who this document is going to and have the individual or business name and contact information ready.
- Date : Have the date the original promissory note was issued handy.