Our client, TWINS FINANCING CORPORATION has referred to us about your accounts on your unsecured loan of Php 30,000.

00, granted on October 3, 2011. In this connection, please be informed that you failed to pay your respective three (3) monthly installments last March 5, April 5, and May 5, 2012 which reached the total arrears of Php 8,850.00. As you were fully aware our client has the right to impose penalty and interest for your delay and failure to pay the said amounts on time pursuant to the loan agreement, which quoted; Should a delay be made in the payment of an installment of at least one day, the whole remaining unpaid under this note shall forthwith become due and demandable without need of further demand. In such case, jointly and severally agree to pay an additional amount equivalent to 2% (two percent) per month as liquidated damages until the account is updated and/or for as long as the account remains in arrears. Thus, in order to avoid additional payment of penalties and surcharges a formal demand is hereby tendered upon you to pay the sum of Php 23, 600.00 within a period of Five (5) days from receipt hereof. Otherwise, we will be constraint to file the necessary action against you to demand damages, interest and attorneys fees.