The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

LETTER OF DEMAND Definition & Legal Meaning

Definition & Citations:

Outstanding principal balance, accrued interest, interest rebate, and early payment penalties, if any are documented and prepared by a lender for a borrower who is paying off a loan before the completion of its term. This is the written confirmation. Also known as payoff statement.


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