Learn how to write a letter to collect money owed. Use our sample letter to collect money owed as a template for your letter.
Letter to collect money owed sample
Dear Debtor’s Name,
This letter is in regards to a loan that I made to you in the amount of [AMOUNT] on [DATE] for the down payment of your new car. At that time, we agreed that this loan was to be paid in full by [DATE].
As of today, [DATE], you have not given me any payments towards this loan. It has been one year since the loan was to be repaid in full. I request that, on the receipt of this letter, you repay the amount in full.
If I do not receive payment in full before the end of this year, I reserve the right to take further legal action to recover the amount of the loan without further notice to you. This letter may be given in evidence in court of your failure to pay.
If it becomes necessary to go to court, I will expect you to pay the applicable interest, filing and attorney’s fees, and any other related costs.
I will be happy to answer any questions you may have if you call me at [555-1234].
Your immediate attention to this matter will be appreciated.
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