��������Ƶ

A Letter of Collection is a crucial business document used in the Philippine market when formal demand for payment of outstanding debts becomes necessary. This document type is essential for businesses and individuals operating under Philippine jurisdiction who need to formally request payment from debtors while complying with local regulations, including the Civil Code of the Philippines, the Consumer Act, and BSP guidelines on fair debt collection practices. The letter typically includes detailed information about the debt, payment history, and clear instructions for settlement, while maintaining a professional tone that aligns with legal requirements. It serves as an important step in the debt collection process and may be used as evidence in legal proceedings if further action becomes necessary. The document must be carefully drafted to ensure compliance with Philippine privacy laws and consumer protection regulations while effectively communicating the payment demand.

1. Letterhead and Date: Company letterhead with complete contact information and current date

2. Recipient Details: Complete name and address of the debtor

3. Subject Line: Clear indication that this is a collection notice with reference number

4. Debt Information: Detailed breakdown of the outstanding debt, including principal amount, interest, and other charges

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

6. Legal Basis: Reference to the underlying contract or basis for the debt

7. Payment Demand: Clear statement of the amount due and payment deadline

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

9. Contact Information: Specific details on who to contact for questions or payment arrangements

10. Signature Block: Authorized signatory's name, title, and signature