Notice of Private Sale of Collateral

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

NOTICE OF PRIVATE SALE OF COLLATERAL

**DATE:** {{date}}

**TO:** {{debtor_name}}

{{debtor_address}}

RE: Notice of Private Sale of Collateral - Account Number {{account_number}}

Please be advised that you are in default of your obligations under the {{agreement_type}} agreement dated {{agreement_date}} (the “Agreement”) between yourself and {{company_name}} (the “Creditor”). Specifically, you have failed to make payments as required, resulting in an outstanding balance of {{outstanding_balance}}.

DESCRIPTION OF COLLATERAL

In accordance with the Agreement, the Creditor holds a security interest in the following described collateral (the “Collateral”):

{{collateral_description}}

*(Include make, model, serial number, VIN, registration number, or other unique identifiers as applicable)*

INTENT TO SELL COLLATERAL

Take notice that the Creditor intends to sell the Collateral in a private sale after {{sale_date}}.

The purpose of this sale is to recover the outstanding amounts owed by you under the Agreement. The sale will be conducted in a commercially reasonable manner as required by law.

OUTSTANDING BALANCE AND ACCRUED CHARGES

The total amount due and owing as of {{date}} is {{total_amount_due}}, which includes:

- Principal Balance: {{principal_balance}}

- Accrued Interest: {{accrued_interest}}

- Late Fees/Penalties: {{late_fees}}

- Other Charges: {{other_charges}}

Additional interest, fees, and expenses will continue to accrue until the debt is fully satisfied or the Collateral is sold.

YOUR RIGHT TO REDEEM COLLATERAL

You have the right to redeem the Collateral prior to its sale by paying the full outstanding balance, including any accrued interest, late fees, and reasonable expenses incurred by the Creditor in preparing for the sale. The exact redemption amount can be confirmed by contacting {{contact_person}} at {{contact_phone}} or {{contact_email}}.

APPLICATION OF PROCEEDS

The proceeds from the sale of the Collateral will be applied first to the reasonable expenses of retaking, holding, preparing for sale, and selling the Collateral, and then to the satisfaction of your indebtedness.

You will remain liable for any deficiency that may arise if the proceeds of the sale are insufficient to cover the outstanding debt and expenses. Conversely, any surplus will be remitted to you as required by law.

FURTHER ACTION

This notice does not waive any rights or remedies available to the Creditor under the Agreement or applicable law. The Creditor reserves all rights to pursue any remaining deficiency through legal means.

CONTACT INFORMATION

For any queries regarding this notice or to discuss redemption of the Collateral, please contact:

{{contact_person}}

{{contact_title}}

{{company_name}}

{{contact_phone}}

{{contact_email}}

Sincerely,

___________________________

{{authorized_signature}}

{{authorized_name}}

{{authorized_title}}

{{company_name}}