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Free Credit Limit - Reduction to Slow-Paying Customer

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Dear _________________:

 

We understand that the past year has been a difficult one for your business; indeed, the downturn in the local economy has affected us all.

 

We know how hard you have tried to honor your credit obligations to us and appreciate the payments you have made. At this time, having reviewed your account, we feel that it would be mutually beneficial if we reduced your credit limit from _________________ to _________________. This reduced limit will make your monthly payments lower, and thus, hopefully, easier to manage.

 

Our Credit Department reviews customer records every year. If you decide to make payments above your minimum amount on a regular basis, we will be glad to consider raising your credit limit to its previous level.

 

In the meantime, if there is anything I can do to assist you, please let me know.

 

Sincerely,

 

 

 

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