Withdrawal of Credit on Past Due Account

Letterhead

{{company_name}}

{{company_address}}

Tel: {{phone}}

Email: {{email}}

Website: {{website}}

Date and Salutation

{{date}}

{{customer_company_name}}

{{customer_address}}

Attention: {{contact_person_name}}

Dear {{contact_person_name}},

Subject

SUBJECT: IMMEDIATE WITHDRAWAL OF CREDIT FACILITIES AND DEMAND FOR PAYMENT OF PAST DUE ACCOUNT – Account No: {{account_number}}

Notification of Credit Withdrawal

This letter serves as formal notification that {{company_name}} has made the difficult decision to withdraw all credit facilities previously extended to {{customer_company_name}}, effective immediately. This action is a direct consequence of the persistent and significant delay in settling your outstanding invoices, which are now considerably past due.

Details of Outstanding Debt

As of {{date_of_statement}}, your account, {{account_number}}, shows a total outstanding balance of {{currency}} {{total_amount_due}}. This amount includes invoices that are past their payment terms, some dating back to {{earliest_invoice_date}}. A detailed statement of your outstanding account has been attached for your review and reconciliation. Please note the following overdue invoices:

- Invoice No: {{invoice_number_1}}, Date: {{invoice_date_1}}, Amount: {{currency}} {{invoice_amount_1}} ({{days_overdue_1}} days overdue)

- Invoice No: {{invoice_number_2}}, Date: {{invoice_date_2}}, Amount: {{currency}} {{invoice_amount_2}} ({{days_overdue_2}} days overdue)

- Invoice No: {{invoice_number_3}}, Date: {{invoice_date_3}}, Amount: {{currency}} {{invoice_amount_3}} ({{days_overdue_3}} days overdue)

[Add more as necessary]

Demand for Immediate Payment

We hereby demand full and immediate payment of the entire outstanding balance of {{currency}} {{total_amount_due}}. All future transactions with {{company_name}} will be conducted strictly on a cash-in-advance basis, with no exceptions.

Consequences of Non-Payment

Failure to settle the full outstanding amount by {{final_payment_due_date}} will leave us with no option but to pursue further action to recover the debt. This may include, but is not limited to, referring the matter to a debt collection agency, commencing legal proceedings, and reporting the delinquency to relevant credit bureaus. Be advised that all costs associated with such recovery efforts, including legal fees and collection agency charges, will be added to your outstanding balance and will be your responsibility.

Contact for Resolution

We urge you to contact our accounts department immediately at {{accounts_phone_number}} or {{accounts_email}} to discuss this matter and arrange for the prompt settlement of your account. Our hours of operation are {{office_hours}}.

Conclusion

We regret that this action has become necessary. We value our business relationships and hope for a swift resolution to this matter. Your prompt attention to this urgent request is appreciated.

Signature Block

Sincerely,

{{sender_name}}

{{sender_title}}

{{company_name}}