Loan Collection Letter

Subject: Collection Notice for Unpaid Loan

Dear [Recipient's Name],

We hope this letter finds you well. We are writing to address the outstanding balance on your loan account with [Lending Institution]. As of the date of this letter, your account remains delinquent, and it is important that we resolve this matter promptly.

Loan Details:

Loan Account Number: [Account Number]

Loan Amount: [Loan Amount]

Original Due Date: [Original Due Date]

We understand that unforeseen circumstances can sometimes make it difficult to meet financial obligations. However, it is essential to fulfill the terms of the loan agreement to maintain a positive credit history. We urge you to take immediate action to settle your outstanding balance.

As a responsible lender, we are willing to work with you to find a mutually beneficial solution. We encourage you to contact our customer service department at [Customer Service Phone Number] as soon as possible to discuss the available options. Our team is trained to assist you in finding a repayment plan that aligns with your current financial situation.

Ignoring this notice may result in further collection efforts, including but not limited to reporting the delinquency to credit bureaus, legal action, or engaging with third-party collection agencies. We genuinely hope to avoid these measures and resolve the matter amicably.

Please be aware that the total amount due on your loan account is now [Total Amount Due]. To expedite the resolution process, we request that you submit payment in full within [Number of Days] days from the date of this letter. Payments should be made payable to [Lending Institution Name] and can be mailed to the address mentioned above.

If you have already sent your payment, please disregard this letter. However, if you have any questions or need further clarification, we are here to assist you. Feel free to contact our customer service department during business hours from [Business Hours] at your earliest convenience.

Thank you for your immediate attention to this matter. We hope to resolve this situation amicably and restore your account to good standing. We value your business and appreciate your cooperation.

Sincerely,

[Your Name]

[Your Title]

[Lending Institution Name]