Dear Sir/Ma,

NOTICE OF DEFAULT AND ENFORCEMENT OF LOAN AGREEMENT TERMS

This letter serves as your final formal notice that you are in breach of the loan agreement with our company. Your continued failure to honour your repayment obligations is unacceptable and will trigger the full enforcement of all legal remedies available to us under the terms of the agreement. This irresponsible conduct is not only alarming but also deeply disappointing, especially for someone of your societal standing.

Please be advised of the following:

• You currently have an outstanding loan balance of ₦{{$outstanding_amount}}. In accordance with the loan terms, a default penalty of 15% per month will be applied to the overdue amount until full settlement is made.
• As stipulated in the agreement, we will now proceed with the immediate implementation of collateral enforcement to recover the debt.
• If the collateral remains in your possession, you are hereby given three (3) days to either remit full payment or voluntarily surrender the collateral. Failure to do so will result in forceful recovery actions, including but not limited to the involvement of enforcement agents or legal proceedings.
• If the collateral is in our custody, it will be disposed of without further notice to offset your outstanding balance, as permitted by the loan agreement.
• This default will also be reported to relevant credit bureaus and financial institutions, which may severely impact your creditworthiness and ability to access future financial services.

We urge you to take this notice seriously and remit payment immediately to avoid additional legal, financial, and reputational consequences.

Yours Faithfully,

Authorized Signature