[Your Address]
[City, State, ZIP]
[Date]
[Recipient's Name]
[Recipient's Address]
[City, State, ZIP]
Re: Letter of Intent to Repossess Car
Dear [Recipient's Name],
I am writing to inform you of my intent to repossess your car, a [Year] [Make] [Model] with the VIN number [VIN]. This action is being taken due to your failure to make the required payments as agreed upon in our original contract.
As per the terms of the contract, you were required to make monthly payments of $[Payment Amount] on the [Due Date] of each month. However, you have failed to make the following payments:
- [Month 1]
- [Month 2]
- [Month 3]
- [Month 4]
As a result of these missed payments, you are currently in default on the loan and the full outstanding amount of $[Outstanding Amount] is due immediately.
If you do not bring your account up to date within the next [Number of Days] days, I will be forced to take action to repossess the vehicle. This may include sending a repossession agent to your home or place of business to seize the vehicle.
Please be aware that you are responsible for any costs associated with the repossession, including towing, storage, and processing fees. You may also be liable for any damage or loss to the vehicle that occurs during the repossession process.
I urge you to contact me immediately if you have any questions or concerns about your account or if you are unable to make the full outstanding amount. I am willing to work with you to find a solution that allows you to keep the vehicle, such as restructuring your loan or allowing you to make a partial payment.
If I do not receive a response from you within the next [Number of Days] days, I will assume that you are abandoning the vehicle and will proceed with the repossession.
Sincerely,
[Your Signature]
[Your Typed Name]
