Subject: New Jersey Sample Letter for Agreement to Extend Debt Payment Dear [Creditor's Name], I hope this letter finds you well. I am writing to discuss the possibility of extending the debt payment terms for the outstanding loan amount I have with [Name of Creditor]. I am currently residing in New Jersey and wish to formalize this agreement to ensure mutually beneficial terms for both parties. As you may be aware, unforeseen circumstances have impacted my financial situation, making it challenging for me to adhere to the original repayment schedule. However, I am earnestly committed to fulfilling my obligations and would greatly appreciate your understanding and cooperation during this difficult time. I propose the following terms for our extended debt payment arrangement: 1. Revised Repayment Schedule: — The duration of the extension period: [Specify the duration in months] — The revised payment deadlines: [Mention the new payment dates] — The revised payment amounts: [Specify the new installment amounts for each deadline] 2. Interest and Penalties: — In exchange for this extension, I humbly request a suspension or reduction in the applicable interest rates and penalties on the outstanding balance during the extension period. — I understand that any accrued interest prior to this agreement shall still be applicable and paid accordingly. 3. Confirmation of Agreement: — This letter serves as a legally binding document upon receiving your endorsement and acceptance of the outlined revised agreement. — Please provide a signed copy of this letter within [Mention a reasonable timeframe] to confirm your acceptance. I understand that this proposal impacts both parties involved, and while I hope it aligns with your interests to receive the outstanding balance promptly, it is crucial for me to have this extension to navigate through this challenging financial phase. Should you require any further information or need clarification regarding my financial circumstances, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. Thank you for your understanding and willingness to consider the extension request. I genuinely value our business relationship and remain committed to fulfilling my obligations. I am positive that this agreement will pave the way towards an amicable resolution. Furthermore, I look forward to receiving your favorable response. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Date] Other Types of New Jersey Sample Letters for Agreement to Extend Debt Payment: 1. New Jersey Sample Letter for Agreement to Extend Mortgage Payment: Used specifically when seeking an extension on mortgage repayments in New Jersey. 2. New Jersey Sample Letter for Agreement to Extend Student Loan Payment: Suitable for requesting an extended repayment timeline for student loans taken in New Jersey. 3. New Jersey Sample Letter for Agreement to Extend Credit Card Payment: Developed for requesting a revised payment schedule for outstanding credit card debt owed to a New Jersey-based creditor. 4. New Jersey Sample Letter for Agreement to Extend Business Loan Payment: Designed for entrepreneurs and businesses seeking an extended loan repayment agreement from a lender operating in New Jersey.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.