Bad credit risk 02

Dear ____ (name):

      As requested, we are replying to your recent letter of

querie regarding ________ (name) as a credit risk.

      In all fairness to you, we regret that we cannot

recommend this firm.  Despite the fact that we granted

generous credit privileges for ____ (time period), they

did not meet their agreed upon obligations and were lax

in their payment.  Therefore, we withdrew these privileges

and now will only do business on a cash basis.

      This is the only basis that we feel secure in dealing

with _______ (name of company).

                        Yours truly,

                               (name)