Promissory Note Default Demand Letter Generator for Germany

The Promissory Note Default Demand Letter is a crucial document in German debt collection practice, used when a debtor has failed to meet their payment obligations under a promissory note (Schuldschein). This document is typically issued after the payment due date has passed and serves multiple purposes: it formally documents the default, demands payment, and sets the stage for potential legal enforcement. Under German law, particularly the BGB (German Civil Code), such a formal demand is often necessary to trigger default interest and establish the basis for enforcement proceedings. The letter must include precise details about the debt, calculations of amounts due, and clear payment instructions. It's an essential step in the debt collection process, as it can affect the creditor's rights and remedies under German law, including the ability to claim default interest and pursue legal action.

1. Sender and Recipient Details: Full legal names and addresses of both the creditor and debtor, formatted according to German business letter standards

2. Date and Reference: Current date and reference numbers including any previous correspondence references

3. Subject Line: Clear identification as a default notice (Verzugsanzeige) regarding the promissory note

4. Promissory Note Details: Specific details of the original promissory note including date, principal amount, and maturity date

5. Default Statement: Clear statement of the default status, including the date when default occurred

6. Amount Due: Detailed breakdown of the total amount due, including principal, accrued interest, and default interest under § 288 BGB

7. Payment Demand: Formal demand for payment including specific payment deadline and payment instructions

8. Legal Consequences: Statement of legal consequences if payment is not received by the specified deadline

9. Closing: Formal closing, signature block, and any required legal notices