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The Demand Letter From Mortgage Company is a critical legal document used in South African mortgage enforcement proceedings when a borrower defaults on their mortgage payments. This document must comply with Section 129 of the National Credit Act 34 of 2005 and related regulations, serving as a mandatory first step before any legal enforcement action can be taken. The letter combines elements of formal legal notice with clear payment demands, including specific details about the default, amount owed, and payment terms. It must provide information about the borrower's rights and available options for debt resolution, including debt counseling and dispute resolution mechanisms. The document's format and content are heavily regulated by South African consumer protection laws, making it essential for mortgage companies to ensure precise compliance while maintaining clear communication with the defaulting borrower.

1. Letterhead and Date: Company details, registration numbers, date, and reference numbers

2. Recipient Details: Full name, address, and account/bond number of the debtor

3. Subject Line: Clear indication that this is a Section 129 Notice and Demand Letter

4. Loan Details: Specifics of the mortgage agreement including property details and original loan amount

5. Default Statement: Clear statement of the default and amount in arrears

6. Payment Demand: Specific amount demanded and payment deadline

7. Legal Requirements: Section 129 notice requirements and consumer rights as per National Credit Act

8. Consequences: Clear outline of legal consequences if payment is not made

9. Contact Information: Details for making payment and contacting the credit provider

10. Signature Block: Authorized signatory details and company representative information