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A Loan Default Letter is sent from a lender to a borrower when the borrower falls behind on their payments. This letter can often be the last notice before the lender takes legal action to regain the money they are owed. This simple letter helps to ensure that all parties are on the same page about the loan's status and that there will be consequences if the debt remains unpaid. When you are ready to get started with drafting your Loan Default Letter, select "Make document" and answer a few questions to generate your document. In general, you'll want to prepare for writing this letter, by gathering the borrower's contact information and loan details. As a Rocket Lawyer Premium member, you also have access to our On Call network of attorneys who are available to help if you continue to face challenges in collecting the debt.