Subject: Request for Time Extension — Loan Repayment Dear [Bank Name], I hope this letter finds you in good health and high spirits. I am writing to bring into your notice an urgent and temporary financial setback that has made it challenging for me to honor the original loan repayment schedule. My name is [Your Name], and I'm a resident of Wayne, Michigan. Wayne, Michigan is a vibrant city located in Wayne County, a part of the Detroit metropolitan area. Known for its diverse community, bustling economy, and rich history, Wayne offers its residents a high quality of life with numerous employment opportunities, excellent education facilities, and a wide array of recreational activities. The city is proud of its strong sense of community and its commitment to promoting growth and development within its boundaries. As a responsible borrower, I have always strived to honor my financial commitments promptly. However, due to an unforeseen medical emergency, I have incurred substantial expenses, which have strained my financial capacity temporarily. Unfortunately, this situation has created a short-term setback, making it difficult for me to meet the existing loan repayment deadline. Considering my sincere commitment to fulfilling my obligations, I kindly request an extension of [X number of months] on the loan repayment period. This additional time will allow me to stabilize my current financial situation and regain stability. I assure you that this request is made in good faith and with utmost honesty. I understand the importance of timely payments and take this matter very seriously. During the extension period, I request that no late fees or penalties be imposed on my account. Additionally, I am open to discussing any available options to restructure the loan terms, such as reducing the monthly installment amount or extending the loan duration. I am more than willing to work with your team to find a mutually beneficial solution that meets both parties' interests. I have always maintained a good credit history and have never defaulted on any previous loans or credit obligations. Moreover, I have attached relevant documents, including medical bills and supporting financial statements, to provide evidence of the temporary financial constraint I am experiencing. I am confident that with this extension, I will be able to rectify my financial situation and resume regular loan repayments promptly. I sincerely appreciate your understanding and cooperation during this challenging period. Please do not hesitate to contact me at [Your Contact Information] to discuss this matter further or request any additional information you may require. Thank you for your time and consideration of my request. I genuinely value the relationship we have established, and I look forward to resolving this matter promptly and amicably. Yours sincerely, [Your Name] [Loan Account Number]
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.