Feb
The creditor writes a credit letter to the person who is asking for the credit. It could both be an offer of the loan or the refusal of the loan depending upon the situation.
The credit letter should first acknowledge the application sent by the reader and congratulate the reader if an offer has been made. Explain in the offer clearly for example if a loan has been approved then the rate of interest, the term of the loan and at the end of the loan and how much would be the total amount borrowed and the amount charged as interest? Be very clear and to the point so the person is not confused and the person who has asked for the credit can think about the offer be fire making the final decision.
If in case it is a refusal be polite and explain the reason why the application has be denied.
Credit letters are also written to readers who do not pay their debts on time. This is almost similar to the collection letter. The letter has to be very polite and professional explaining why you are writing the letter and the amount that the reader owes you. If there is no response keep sending the letters twice or thrice before you let them know about the consequences of not paying the debt. In all cases be professional and polite and do not vent out your anger.
If the credit letter is sent to the lender because you can’t pay back your debt then clearly explain in the letter the reason for your delinquency and request for extra time or a different method of payments, which is mutually suitable to both.
Leave a Reply