Pre-possession notice (example)

To:

[Full name of debtor] Anthony James D’Van & Tina Marie D’Van

[Address] 24 Sunset Terrace, Nightcap

This is about your [Describe goods] Big Bed Supersoft Queen Bed, which is subject to a security agreement with [Full name of creditor] RestEasy Finance Ltd. The agreement is dated 1 April 2010. This is to notify you that:

• You are in default under that security agreement; and
• The default consists of [Specify the nature of the default] $246.88 which is the 2 instalments dated 10 June, and 10 July 2010 at $123.44 each.

YOU MUST, within 15 days [Insert number of days not being less than 15] after the service of this notice on you:

• Pay $246.88 to [Name and address to which payment must be made] RestEasy Finance Ltd, PO Box 1 Bedale. That amount is made up as follows: 
  • [Show how the arrears are made up] 2 instalments dated 10 June, and 10 July 2010 at $123.44 each or (Note | Delete whichever is inapplicable)
  • ……………….. [Describe obligation to be performed]; AND  
• Remedy other breaches of the agreement by ………….. [Describe the actions that the debtor must take to remedy the default (in so far as it is capable of being remedied)].

IF YOU DO NOT COMPLY with these requirements within 15 days [Insert number of days not being less than 15] after the service of this notice on you, [Full name of creditor] RestEasy Finance Ltd INTENDS TO TAKE POSSESSION of the [Describe goods] Big Bed Supersoft Queen Bed.

Dated this 31st day of July 2010

......................................................[Creditor’s signature]

This notice is given by [Full name and address of creditor] RestEasy Finance Ltd, PO Box 1 Bedale, as creditor under the security agreement.

NOTE | Where this notice is sent to a guarantor it must be endorsed at the top of the notice as follows: This notice is sent to you as guarantor of Anthony James D’Van & Tina Marie D’Van. As guarantor you have certain rights and obligations and you should seek advice at once.