Life can be challenging at times, and we understand that financial difficulties can happen to anyone. At 1 2 3 Finance Group, we truly value our customers and are committed to supporting you through tough moments. That’s why we offer various payment solutions designed to help you get back on track with your financial obligations — always subject to our terms and conditions.

Our goal is always to work things out through open communication and mutually agreed arrangements. However, when we are unable to reach an agreement or receive a response despite our repeated efforts to assist, we may need to take the next step by endorsing the account for a Demand Letter.

Get to know our Demand Letter

A Demand Letter is a formal written notice sent by one person or company to another to request the payment of a debt or the fulfillment of an obligation.

When it comes to Personal Loans, a Demand Letter serves as a formal notice  from the Legal Team of 1 2 3 Finance Group regarding an outstanding balance and is part of our standard process to address unresolved accounts.

Under Article 1169 of the Civil Code, once a borrower is in delay, the lender has the right to demand payment through legal or formal action.

This means borrowers who consecutively fail to pay their monthly installments may receive a Demand Letter after several attempts from our team to reach them through calls and SMS payment reminders. The Demand Letter serves as a final notice to settle the overdue amount before the account is escalated for legal action.

What should I do if I receive a Demand Letter?
 If you receive a Demand Letter, don’t panic. Here is our simple guide to help you understand what to do next.

1. Review the Letter Carefully
Check the details in the letter, such as:

•Your Full Name
•Our Company Letterhead
•Your loan balance
•The due amount
•The deadline for payment

Also, make sure the person who gave you the letter is an authorized collector of 1 2 3 Finance Group. You may ask for their QR badge and scan it to confirm their identity. Once scanned, it will redirect you to our official website where you can view the collector’s employment information.

2. Don’t Ignore It
A Demand Letter is serious and a legitimate document. In fact, this is your chance to explain your situation to the company and request a possible payment extension or arrangement. Ignoring it may lead to legal action and additional problems such as:
•More time and stress
•Additional financial costs for legal counsel
•Possible court-related expenses
 

3. Coordinate with our Team
Once confirmed, contact your assigned collector or call the numbers stated in the letter. You have 5-7 days to reach out to our team.

We understand that life can be challenging sometimes, and financial difficulties can happen. Rest assured, our team is ready to assist you and work with you in finding the best arrangement for an out-of-court settlement. Remember, we are here to help — and the sooner we talk, the more options we can explore together.