What is a Demand Letter?
A Demand Letter is a letter that obligates someone to deliver or do something. In the context of the loan, it is a letter from the Legal Team of Flexi Finance informing the borrower that you must repay your overdue balance.

Article 1169 of the Civil Code provides that when a borrower incurs in delay, the creditor, judicially or extrajudicially, has the right to demand the fulfillment of the obligation.

The law also states that borrowers who fail to pay their monthly installments can be sent a Demand Letter.

What is Delay?
Delay or default is the failure of the borrower to perform his obligations, like the payment of a loan. As in this case, he is in mora solvendi, and, thus, liable for damages. (Pineda vs. Vda De Vega, G.R. No. 233774).

Are Demand Letters Legit?
Yes, and in fact, it is required by the law under Article 1169 of the Civil Code.

What to do when you receive a Demand Letter?
4.1 Check and verify the details in the letter, if the amount is correct and if the collector that gave you the letter is currently employed with Flexi Finance
4.2. Once everything is confirmed, it is best to respond to our letter by contacting your collector or contacting the numbers stated in the letter to discuss the solution to your obligation.

We understand that we have difficult times so the best thing you can do is contact our representatives for out-of-court settlements.

In fact, we offer a Remission Program or competent discount on penalties to the qualified client. For more information about our Remission Program, reply to our demand letter.