03 September 2018

Subject: Letter of demand – outstanding payment

Dear _______,

I am writing in reference to your personal loan and payment not being received.

I enclose herewith the copy of check and agreement dated 30 June 2018 for the outstanding
amount of Php 35, 000.00 plus the interest of Php 1,500.00 pesos as of this date 03
September 2018

We would like to demand full payment of the outstanding amount within 10 days from the
date of this letter. Alternatively, and without prejudice to my rights for full recovery of the
debt, I am prepared to:
 Accept the any amount of less than full payment a settlement of the debt if paid within 7
days from the date of this letter.
or
 Accept instalments of Php 10,000 per 15th and 30th of each until the debt is fully paid, the
first instalment to be paid on 13 September 2018 and thereafter of every payday of each
month until the debt is fully paid.
If this matter is not resolved by the time specified above, I reserve the right to commence to
report and have an action regarding the debt without further notice to you and this letter may
be tendered as evidence of your failure to pay.

Thank you.

Yours sincerely,