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A Monetary Demand Letter can be used to to demand the payment of money owed. It is usually used when a person who is owed money has made repeated demands to be paid and has been ignored.
A Monetary Demand Letter can be used for any situation wherein a person is owed money, such as when a person loaned money, advanced payment on behalf of another person, sold goods, or provided services, among others.
The Monetary Demand Letter can be used to as a written demand before pursuing legal action to recover the money.
How to use this document
In this document, the user can enter the general information regarding the money owed, including the reason that the money is owed, the date when the money was supposed to be paid back and the outstanding amount. The user can also include any amount that has been repaid.
Once the document is completed, the person that is demanding payment should print and sign the document before sending it to the person who should pay.
Although there are no laws that outline the contents of a Monetary Demand Letter, the general laws and procedure for obligations and contracts, such as loans, are governed by the Civil Code of the Philippine and the Rules of Court.
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