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A demand letter is a document formally requesting action sent by one party to another, usually to request payment or correct a wrongdoing. The recipient of the demand letter may be someone who owes money, breached a contract, is in financial default, or has failed to follow through with an undertaking. A demand letter is not a “legal document” in the sense that it is a binding contract or has to be prepared by a licensed attorney. Technically, you can write your own demand letter, although demand letters are most effectively written by attorneys. Sending a demand letter on your… ( Read Full Article… )