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
| Invoice | Date | Amount | Balance |
|---|---|---|---|
| [#] | [DATE] | $[AMT] | $[BAL] |
| Principal | $[AMT] | ||
| Interest (6%) | $[AMT] | ||
| TOTAL | $[TOTAL] |
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]
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