This letter assumes that a clause allowing acceleration is in the loan document.
Notice of Intent to Accelerate
[Date]
[Name and address of debtor]
Re: [name of creditor], Creditor
[include if applicable: Account number [number]]
[other information describing debt, if applicable]
Our file number: [law office file number]
[Salutation]
I have been retained as attorney for [name of creditor].
The terms of your agreement with my client provide that in the event of your default in the agreement, the entire principal amount of the debt may, at the creditor’s option, become immediately due and payable.
Despite demand made on [date] for payment of amounts overdue, you are still in default. This letter constitutes notice that, unless I receive a certified check, cashier’s check, or money order for the full amount that is due and unpaid on or before [number] days after the date of this letter, I intend to take whatever steps are necessary to protect my client’s interests, including seeking late charges, collection expenses, attorney’s fees, interest, and acceleration of the remaining unpaid principal balance under the terms of the referenced note and agreement and the laws of this state.
Enclosed is an addressed, postage-paid envelope for your payment.
Sincerely yours,
[Name of attorney]
Certified Mail No. [number]
Return Receipt Requested
Enc.