What is a Loan Default Letter?
Re: Loan number
We have not received any payments on your loan for the past weeks. Perhaps you have overlooked these payments, or perhaps they were misplaced in transit.
I am writing to inform you that your loan is now in default. We must receive payment on the total past due amount of by to prevent legal action.
If you have overlooked this payment, please pay it in full now. If you need to make an alternate payment arrangement, please call us. I will try to accommodate you. But please, contact us immediately, so that we can avoid further risk to your credit status.