Sample Recovery Letter 1

Wednesday 10 January 2024

FIRST LETTER

Member’s Details:

Name  ____________________                                C.U.No  ____________

Original Loan: £______________                   Date    ______________

Current Loan Balance £______________      Date    ______________

Address           ____________________

____________________

____________________

WITHOUT PREJUDICE

 

Dear

OUTSTANDING LOAN ACCOUNT

On checking our records I find that as you have missed your monthly repayment of £______________
due on     ____/____/____
your loan is in arrears to the Credit Union for an amount of £______________
plus interest.  

The Credit Union is a co-operative and when members borrow they are expected to repay in accordance with their Loan Agreement. Failure to do so means that service to other members is restricted. Also it means that you are paying more interest.

Will you please contact me within the next ten days so we can discuss your situation and arrange when you will be able to commence regular repayments to the Credit Union?

Yours sincerely,

 

Credit Control Officer