Dear Sir/Madam,

URGENT: LOAN DEFAULT NOTICE - ACTION REQUIRED WITHIN 48 HOURS

I trust this letter finds you well.

We are writing to you concerning your loan repayment pattern. We have observed an irresponsible repayment behavior that demonstrates a lack of integrity at source. Our attempts to collect funds from you at source have proven unsuccessful over the past months, and we can no longer tolerate this situation. Your irresponsible actions have resulted in missed repayments, and you currently have an outstanding balance of ₦{{number_format($outstanding_amount,2)}}.

In accordance with the loan agreement which you confirmed via video, please take note of the following:

• You will be charged a penalty of 20% of the outstanding amount in line with the loan agreement, which will result in an additional charge of ₦{{number_format($penalty_amount,2)}}, bringing your total outstanding balance to ₦{{number_format($new_amount,2)}}.
• Going forward, we will debit your account from the 22nd of every month and will also attempt to debit you at source within that same month. This will result in double deductions. Please note that we are implementing this measure due to your lack of integrity regarding source deductions.
• We will be taking possible legal action against you and reporting you to the credit bureau for irresponsible behavior towards loan repayment. This will affect your ability to obtain loans in the future.

Please note that if you make the full outstanding payment of ₦{{number_format($outstanding_amount, 2)}} within the next 48 hours, we will not proceed with the actions specified above. However, if you fail to do so, please be aware that we will implement double deductions going forward. Any attempt by you to visit our office to harass our staff will be met with appropriate legal action and a report to law enforcement, as well as a report to your employer regarding your unruly behavior, given that you have acted irresponsibly towards your loan repayment obligations.

We trust that this is merely an oversight, and we are giving you the opportunity to make your loan repayment as soon as possible to avoid further consequences of defaulting on this loan.

We urge you to take this seriously and act accordingly. Thank you for your understanding and cooperation.

Yours Faithfully,

Adaugo Orji,
Acting Head, Revenue Assurance