Notice of Intention to Foreclose



Notice of Intention to Foreclose :



This Letter should be written in The Letter-Pad of the Company.


NOTICE OF INTENTION TO FORECLOSE

(Under Security Agreement)



To ______________________________________________, Debtor Address_________________________________________________ You are hereby notified that the undersigned intends to foreclose under provision of that certain Agreement executed by you on the _______ of ______________19 , whereby certain personal property described as follows was given as security for the payment of indebtedness to Secured Party named below.


(Description)


You are hereby further notified that unless you pay, within ___ days from the date hereof, to the undersigned, holder and owner of the said Agreement, at their office address, which is listed below, the sum of $ , all of which is now due and payable pursuant to the conditions of said Agreement, plus charges at the rate provided for in said Agreement, from date hereof to date of payment, SECURED PARTY SHALL TAKE POSSESSION OF SAID PROPERTY. Further, if said property sells for less than the amount then due under terms of the Agreement, you will be obligated to pay the deficiency.


Dated :


SECURED PARTY's Address :


By :


NOTE :


This is a typical letter. You have to add your company's name with full address. And the receiver's name and full address also should be added in the place allotted for that purpose. Without those primary details no letter carries any significance. So, you are requested to provide all those important details. Failing which the letter will make a wrong impression about your company and you among the receivers of your letters. This is the most unwanted attitude on your side in dealing with the clients who are the most valued assets of any business organisation. If necessary, leave those spaces blank.




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Notice of Intention to Foreclose
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