Collections Demand Letter - Arkansas

COLLECTIONS DEMAND LETTER

State of Arkansas

SECTION A: BUSINESS-TO-BUSINESS (B2B) COLLECTIONS

[LAW FIRM NAME / CREDITOR NAME]
[ADDRESS]
[CITY], Arkansas [ZIP]
Tel: [TELEPHONE]

SENT VIA CERTIFIED MAIL, RETURN RECEIPT REQUESTED

[DATE]

[DEBTOR COMPANY NAME]
[ADDRESS]
[CITY, STATE ZIP]

Re: DEMAND FOR PAYMENT
Account Number: [NUMBER]
Total Amount Due: $[TOTAL]

Dear [RECIPIENT NAME]:

This constitutes FINAL DEMAND FOR PAYMENT before legal action.

I. STATEMENT OF ACCOUNT

II. ARKANSAS LAW

Interest: 6% default rate under Ark. Code Ann. section 4-57-104. Maximum permitted: 17% or 5% over Federal discount rate (Ark. Const. Art. 19, section 13).

Statute of Limitations: 5 years (Ark. Code Ann. section 16-56-111).

III. DEMAND

Pay $[TOTAL] within [15/30] days.

[LAW FIRM NAME]

By: _______________________________
[NAME]

SECTION B: BUSINESS-TO-CONSUMER (B2C) COLLECTIONS

[DEBT COLLECTOR NAME]
[ADDRESS]
[CITY], Arkansas [ZIP]

[DATE]

[CONSUMER NAME]
[ADDRESS]
[CITY], Arkansas [ZIP]

Account Number: [NUMBER]

NOTICE OF DEBT

THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.

Amount: $[AMOUNT]
Creditor: [CREDITOR NAME]

YOUR RIGHTS

• Dispute within 30 days for verification
• Request original creditor information
• Request we stop contacting you

Arkansas Exemptions: Homestead (unlimited acreage in rural areas, 1/4 acre in city), personal property exemptions, 100% wage exemption for 60 days after payment.

[DEBT COLLECTOR NAME]