Delaware Sample Letter for Agreement to Extend Debt Payment

• Category: Letters - Nonlegal - Agreements
• State: Multi-State
• Control #: US-0052LR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Sample Letter for Agreement to Extend Debt Payment Dear [Debtor's Name], I hope this letter finds you in good health and high spirits. I am writing to propose an extension to the existing debt payment agreement between us, as we have encountered unexpected financial difficulties that require us to revisit the repayment terms. This letter serves as a formal request to amend the agreement to better accommodate our current circumstances. Firstly, let me express my gratitude for your understanding and cooperation thus far. Our intention is to honor our commitment and repay the debt in full. However, due to unforeseen circumstances, we are currently experiencing temporary financial constraints that hinder our ability to meet the original payment schedule. To ensure that we can fulfill our obligation to you, we propose extending the debt payment term by [proposed duration], starting from the original date of the agreement. This extension will enable us to make smaller monthly installments while staying on track to eventually settle the entire outstanding amount. We believe that this adjustment will provide the necessary breathing space to navigate through our current situation responsibly. To illustrate our sincerity, we have attached a detailed breakdown of our revised payment plan, outlining the new monthly installment amount, the updated total amount repayable, and the expected completion date. We have also taken into account any additional interest or penalty charges that may apply as a result of this extension. Please review this proposed plan carefully and address any concerns or modifications you may have. We understand that this revised arrangement may raise questions or require further clarification. Therefore, we kindly request that you communicate your acceptance or amendment suggestions in writing within [insert a reasonable deadline, e.g., 14 days] from the receipt of this letter. Your prompt response will enable us to finalize the updated agreement promptly, ensuring transparency and avoiding any further confusion or delays. If you agree to the proposed extension, we would like to reaffirm our commitment to fulfill the revised terms diligently. We assure you that we will strictly adhere to the updated repayment plan, and any required payments will be made as agreed. We value our relationship with you and aim to re-establish our financial stability as soon as possible. Furthermore, we anticipate a positive response from you and look forward to resolving this matter amicably. Should you have any questions or require further information, please do not hesitate to reach out to us at the contact details provided above. Thank you for your consideration. We genuinely appreciate your understanding and willingness to accommodate our current circumstances. Your cooperation during this trying time is invaluable to us. We look forward to hearing from you soon. Yours faithfully, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Sample Letter for Agreement to Extend Debt Payment Dear [Debtor's Name], I hope this letter finds you in good health and high spirits. I am writing to propose an extension to the existing debt payment agreement between us, as we have encountered unexpected financial difficulties that require us to revisit the repayment terms. This letter serves as a formal request to amend the agreement to better accommodate our current circumstances. Firstly, let me express my gratitude for your understanding and cooperation thus far. Our intention is to honor our commitment and repay the debt in full. However, due to unforeseen circumstances, we are currently experiencing temporary financial constraints that hinder our ability to meet the original payment schedule. To ensure that we can fulfill our obligation to you, we propose extending the debt payment term by [proposed duration], starting from the original date of the agreement. This extension will enable us to make smaller monthly installments while staying on track to eventually settle the entire outstanding amount. We believe that this adjustment will provide the necessary breathing space to navigate through our current situation responsibly. To illustrate our sincerity, we have attached a detailed breakdown of our revised payment plan, outlining the new monthly installment amount, the updated total amount repayable, and the expected completion date. We have also taken into account any additional interest or penalty charges that may apply as a result of this extension. Please review this proposed plan carefully and address any concerns or modifications you may have. We understand that this revised arrangement may raise questions or require further clarification. Therefore, we kindly request that you communicate your acceptance or amendment suggestions in writing within [insert a reasonable deadline, e.g., 14 days] from the receipt of this letter. Your prompt response will enable us to finalize the updated agreement promptly, ensuring transparency and avoiding any further confusion or delays. If you agree to the proposed extension, we would like to reaffirm our commitment to fulfill the revised terms diligently. We assure you that we will strictly adhere to the updated repayment plan, and any required payments will be made as agreed. We value our relationship with you and aim to re-establish our financial stability as soon as possible. Furthermore, we anticipate a positive response from you and look forward to resolving this matter amicably. Should you have any questions or require further information, please do not hesitate to reach out to us at the contact details provided above. Thank you for your consideration. We genuinely appreciate your understanding and willingness to accommodate our current circumstances. Your cooperation during this trying time is invaluable to us. We look forward to hearing from you soon. Yours faithfully, [Your Name]