9th May 2019

Dear Slivester Macharia Ng’ang’a,

DEMAND TO PAY MONICA NJERI NGONYOKU’S LOAN ARREARS AND

ACCRUED PENALTIES

As it is well known to you on or about 24th day of April 2019 yourself and Monica Njeri
Ngonyoku approached and borrowed a loan of Ksh 10,000 from Axe Credits which was
disbursed to Monica Njeri Ngonyoku upon yourself being the guarantor and on terms well
known to you and stipulated in the loan agreement you signed.
On or about the 29th day of April 2019 you presented yourself to our Gilgil office and informed
us that Monica Njeri Ngonyoku faced financial challenges and you will take over the
responsibility of ensuring the loan is paid solely without any case of arrears.
You have since failed to honour your obligation of paying the loan in weekly installments as
agreed in the loan agreement and caused the loan to fall into arrears.
The said loan is now in arrears of one thousand seven hundred and fifty shillings (Ksh.1,750)
and has so far attracted a late payment penalty of five hundred shillings (Ksh. 500).
Numerous occasions to reach you to pay this loan have not been successful because you keep
making promises which are never honoured and you have also resolved to avoid our telephone
calls.
You are hereby served with this demand notice of seven (7) calendar days from the date of this
letter to clear the loan arrears and penalties all amounting to Kenya shillings two thousand two
hundred and fifty (Ksh.2, 250) and continue paying weekly installments of one thousand seven
hundred and fifty shilling (Ksh. 1,750) without fail until the loan outstanding balance of twelve
thousand two hundred and fifty shilling (Ksh 12,250) failure to which the company will take
measures to recover the loan which may include and not limited to repossession and subsequent
sale of pledged security items without any further notice.
Be well informed.

Yours faithfully,

OPERATIONS MANAGER

C.C : E.D & O.D, OCS- GILGIL