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Promissory Note Default
RE: NOTICE OF DEFAULT ON PROMISSORY NOTE
PURSUANT to the terms of a certain promissory note dated the ________ day of ________, [Month] 20 __, the borrower has failed to make the required payment.
Failure to pay constitutes a default of the promissory note.
PURSUANT to the promissory note, the entire amount, including interest of [$------] is now due and payable.
Should you not correct the default or pay the entire outstanding amount within [---] days from the date and signing of this letter, this matter will be forwarded to our counsel for appropriate collection actions.