If there are circumstances beyond your control which are preventing payment, this is your FINAL OPPORTUNITY to let us know. If a Payment Notice is not given by the Employer, the sum stated in the Contractor’s Interim Application becomes automatically due by default If the Employer intends to pay less than the sum stated as due in Payment Notice or Interim Application, it must serve a Pay Less Notice not later than 5 days before the final date for payment. Once paid, please supply a receipt to this office as a matter of urgency. Should you wish to avoid this, please make payment into our account within the next 7 days, the details of which are: If listed today, it will remain on your credit file until (today’s date- 5 years in the future) and severely impact your ability to obtain credit during this five year period.

Invoice number (invoice number), is now more than 60 days overdue, meaning a credit default can be listed against you. This amount was due for payment on the (due date of the invoice).ĭespite numerous requests, payment has not been received and the debt has today reached a critical stage which requires your URGENT ATTENTION. We write regarding the above-mentioned which remains outstanding in the amount of ($ amount owing). Original due date of invoice: (Due date of oldest/only invoice) A default notice is a warning and as such should be taken very seriously.Re: (Outstanding Invoice (s) (invoice numbers)

The claim form will provide complete information as to who is taking the matter to court, the amount of arrears, and proposed action. Once the default notice is sent, the lender can start the process to recover the money by issuing a claim form.

If the amount cannot be paid on time, an offer can be made to the creditor. Usually, the default notice will give the borrower seven days to comply with the action required. If the payments are in arrears the creditor has to issue a default notice before any legal action or intervention can take place. Such notice will declare that he or she has not made their payments in accordance to the predetermined deadline and that if the money owed, with an additional legal fee is not paid in a given time, the lender may choose to foreclose the borrower’s property.Ī notice of default will include the full name and address of the creditor issuing the default notice, the full name and address of the borrower, the type of agreement and full details of how the agreement was breached, the early settlement figure (for fixed sum only), action that can be take to remedy the situation and comply with the agreement, and the proposed action by the creditor for noncompliance with the agreement. can also be purchased as part of the 205 Business letter and. A notice of default is a formal notification to a borrower stating that a default has occurred and that legal action may follow. Just fill in and print your free notice of default letter.

Default notice template