Credit Termination Letter
When a client becomes uncreditworthy, you can send them this Credit Termination Letter to inform them that credit has been withdrawn.
[Date]
[Recipient’s Name]
[Company/Business Name]
[City, State and Zip Code]
[Mobile/Fax Number]
Ref: Cancellation of Credit Provision
Dear [Recipient’s Name]
I have been asked by the [Bank’s Name] to review your credit account and past payments. From my evaluation, I have determined that you have been a valued client for our credit services for [Duration]. Your confidence in us is much appreciated.
Further examination, however, reveals that you have defaulted on your credit for [Duration]. This has been without prior notice to the bank and no follow-ups from your end. To this effect, the bank is terminating your credit effective from [Date].
For any clarification, contact us through our mobile number [#].
Sincerely,
[Sender’s Signature]
[Sender’s Name]
Bank Manager, [Bank’s Name]