Writing a Demand For Payment Letter Written by Allan Branch Once your clients are late on their invoices, each day you wait to demand payment will make getting paid harder.
An explanation letter is usually written in two scenarios, namely, a case where the payment is yet to be made, and the borrower asks for more time, and a case where the borrower has made the payment and is apologizing for the late payment.
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Dear {Recipient}, This letter serves as official notice that your payment with {company name} is past due in the amount of {amount}.. The account number is {number}.. This is your first notice that this payment is late. Please send payment as soon as possible, in order to prevent escalation of this case.
Acknowledge your fault in the late payments and explain the circumstances that prevented you from making those payments. If there is a specific reason that you need a good credit rating, such as attempting to get a loan for a house or a much-needed car, include it.
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By September 14th, the amount due noted on the letter was paid.. many payments have you missed to date and when is your payment due?
One can find samples of late payment explanation letters at myFico, CreditInfoCenter, FriscoMortgageGuy and many other finance sites. Also referred to as an LOX or LOE (letter of explanation), late payment letters can be sent to creditors explaining why a payment is late.
Mortgage lenders request a letter of explanation for gaps in your employment or past credit problems. Learn how to write a letter of explantation.. Late payments and past-due credit.. lenders just want to know that you have a reliable source of income to cover your mortgage payments.
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Whom it may concern. Date: 8/8/13. Subject: [Late payment due to some problem] Dear Sir, I would like to beg to st6ate that I want to put this letter into your kind attention that I have been late on my payment to your company on my mortgage due to some personal problem.
The letter includes the borrower’s name, address, and mortgage loan number. It seems quite reasonable.except that the borrower tells me he isn’t and hasn’t been late on any payments. "I called them.