Letter Requiring Debtor to Assemble Collateral at Convenient Location
[Date]
[Name and address of debtor]
Re: [description of collateral, note, and security agreement]
[Salutation]
I have been retained as attorney for [name of creditor].
Because of your default on the referenced note, my client demands that you assemble the referenced collateral and make it available to my client at [address, city, state] on or before [date and time]. You are required to do this on demand of the creditor by the referenced security agreement, a copy of which is enclosed.
Your failure to comply with the demands in this letter may force my client to take whatever legal action is necessary to protect my client’s rights under the note and security agreement.
Under the security agreement, any sale of the collateral by my client will be credited against the amount of your deficiency under the note.
Sincerely yours,
[Name of attorney]
Certified Mail No. [number]
Return Receipt Requested
Enc.
c: [name of creditor]
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Attach copies of the note and security agreement. |