[Your Street Address]
[City, State, and Pin Code]
[Insert Date]
[Recipient’s Name]
[Recipient’s Company, if applicable]
[Recipient’s Address]
[Recipient’s City, State, and Pin Code]
RE: Default on Installment Promissory Note
Dear _______:
Reference is made to that certain Promissory Note dated _, 20___, of which you are the maker, in the original principal amount of Rs.________ (the “Note”). The undersigned is the current holder of the Note. This letter is to inform you that you have defaulted on the installment payment under that Note due on _, 20___, in the amount of Rs._. Demand is hereby made for payment of this past-due installment. Unless we receive your payment for___________ dollars (Rs._) [, which amount includes the additional fees of ______,] by _, 20__, we will proceed to enforce our rights under the Note
for collection of the entire balance….
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