Use this form if you need to start the formal process of recouping money you lent to someone who isn't making good on payments. It gives you the template for your letter and helps you request specific action from the borrower.
If someone owes you money and falls behind on repayment, and you haven’t been able to work out a new repayment plan, the next step is to send the borrower a formal demand letter. This form gives you the template for your letter and helps you request specific action from the borrower.
Important to Know:
Be careful not to say you’re going to take certain actions (for example, sue in small claims court) if you don’t intend to follow up.