Section 8.24 Demand Letter

• Library: Creditors' Remedies (2009 Ed. + 2014 Supp)

A. (§8.24) Demand Letter

Although, in commercial cases, there is no requirement that a demand letter be written, it often facilitates the quick resolution of the dispute. In these cases, a forceful letter demanding the immediate payment of any balance owed and that the debtor assemble the property for the creditor to peaceably repossess under § 400.9-503, RSMo Supp. 2008, of the Missouri Uniform Commercial Code (MUCC), Chapter 400, RSMo, alerts the debtor to the seriousness and immediacy of the matter. To obtain assurance of a peaceable surrender, the demand letter should set a deadline—a date before the anticipated pick up time—by which the debtor is to contact counsel or the client. If the debtor fails to make contact by the specified time, counsel may assume the debtor's refusal to surrender the...