Mortgage Knowledge Base
A final reminder letter is sent by a lender to remind borrowers of their obligation to repay an overdue debt.
It is the last stage before legal action is taken, and usually serves as a warning to borrowers that the lender has exhausted all other possible avenues and will not accept any further delays in payment. Final reminder letters typically state the outstanding balance with details of how and when it should be paid, along with any additional charges or penalties if payment isn’t received by a certain date.
