Sample Letter for Request for Extension of Time on Promissory Note — San Jose, California Dear [Lender's Name], I hope this letter finds you in good health and high spirits. I am writing to formally request an extension of time on the promissory note signed on [date] for the loan amount of [amount]. I have recently encountered unforeseen circumstances that have impacted my ability to repay the loan according to the agreed-upon schedule. First and foremost, I want to assure you that I am fully committed to fulfilling my financial obligations. However, due to [explain the reasons for the extension request], I am currently facing temporary financial hardship, making it extremely challenging to meet the previously established repayment schedule. [Elaborate on the specific reasons for the extension request, providing honest and detailed information about the circumstances that have led to the current financial hardship.] For instance, if you have recently undergone a medical emergency, job loss, or other unavoidable circumstances that negatively impacted your financial situation, be sure to mention them here. I want to emphasize that I am actively working towards resolving the financial challenges I am facing and have developed a plan to overcome these difficulties. [Briefly outline your plan to get back on track financially and explain how this extension will facilitate that.] It is crucial for me to have this extension in order to make the necessary arrangements and stabilize my financial situation. I understand the importance of honoring my commitment and the impact that my request may have on your own financial planning. Therefore, I propose an extended repayment period of [state the length of the requested extension] to repay the outstanding balance in full. I humbly request your understanding and cooperation in this matter. I assure you that this extension will not only benefit me but will also enable me to maintain a good credit profile, which will allow me to make timely payments on other obligations in the future. Moreover, I am open to discussing any alternative arrangements that would be in the best interest of both parties involved. I kindly request your prompt consideration of my extension request and request that you provide me with a written response at your earliest convenience. I would appreciate it if you could confirm the terms of the extension so that I can proceed accordingly and alleviate the stress caused by the current circumstances. Furthermore, I am sincerely grateful for your past support and understanding. Furthermore, I am confident that, with your assistance, I can overcome this temporary setback and get back on track with my financial obligations. Thank you for your attention to this matter. Sincerely, [Your Name] [Your Contact Information]
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.