Mr. Michael Johnson,
46, Apple Valley,
Dear Mr. Michael,
Sub- Legal Notice for Non-payment of Loan Installment
Ref- Loan A/c No. 000056789
Notice is being sent to you for the non-payment of previous three installments on your loan as mentioned in the reference. The loan was taken for the purchase of Car in the month of March 2011 and after paying two installments, you have not paid rest of the installments till today.
However, we have already sent several reminders for the non-payment of installments on time, yet we have not got any response from your side. As a result we are supposed to take legal step of sending you legal notice.
If you do take appropriate action against your due with in 15 days from this notice we will be bound to take legal action against you. The legal action can result in confiscation of mortgaged property and penalty as per the law for defaulting.