Collection Letter Final Notice Template for Philippines

The Collection Letter Final Notice is a crucial document in the Philippine debt collection process, typically issued after multiple unsuccessful attempts to collect payment. It represents the final step before pursuing legal remedies under Philippine law. This document should be used when all other collection attempts have failed and the creditor is prepared to take legal action. The letter must include specific details about the debt, payment history, final payment terms, and potential consequences of non-payment. It must comply with the Civil Code of the Philippines, Consumer Act, and relevant BSP regulations regarding debt collection practices. The document serves both as a final opportunity for the debtor to settle the outstanding amount and as potential evidence in future legal proceedings if payment is not received.

1. Letterhead and Date: Official business letterhead including company name, address, contact details, and current date

2. Recipient Details: Complete name and address of the debtor, account number, and other relevant identification details

3. Subject Line: Clear indication that this is a Final Notice for Payment/Collection

4. Debt Details: Specific information about the outstanding debt, including original amount, interest, penalties, and total amount due

5. Payment History: Brief summary of previous payment attempts and communications

6. Final Demand: Clear statement of demand for payment, with specific deadline

7. Payment Instructions: Detailed information on how and where to make the payment

8. Legal Consequences: Professional explanation of legal actions that may be taken if payment is not received

9. Closing and Signature: Professional closing, contact information for questions, and authorized signature