Delaware Sample Letter for Request for Extension of Time on Promissory Note

• Category: Letters - Nonlegal - Requests
• State: Multi-State
• Control #: US-0395LR
• Format: Word; Rich Text

Description

Sample Letter for Request for Extension of Time on Promissory Note Subject: Request for Extension of Time on Promissory Note — [Your Name] Dear [Lender's Name], I hope this letter finds you in good health. I am writing to formally request an extension of time on the promissory note dated [Promissory Note Date] that requires full repayment by [Original Due Date]. Due to unforeseen circumstances, I am unable to fulfill this obligation within the provided timeframe. I apologize for any inconvenience this may cause, but I am currently facing [mention reasons causing temporary financial constraints, such as a reduction in income, unexpected medical expenses, or job loss]. Despite my best efforts to meet the original repayment schedule, I am currently unable to honor my commitment without experiencing undue financial strain. Considering my strong determination to fulfill this obligation, I kindly request an extension of [State the proposed extended repayment duration, for instance, 60 days or any suitable timeframe]. This extension will allow me to reorganize my finances, address these temporary setbacks, and meet my financial responsibilities with you. I assure you that I am fully committed to repaying this debt and intend to honor my obligations as soon as my financial situation improves. I am actively taking steps to enhance my income streams and carefully manage my expenses to ensure a timely and complete repayment. Furthermore, I completely understand that an extension places an extra burden on you as the lender, and I am more than willing to discuss any additional terms or conditions necessary to carry out the extension successfully. If there are any fees or charges associated with this extension, please notify me at your earliest convenience so that we may discuss and incorporate them into the revised agreement. To facilitate this request, I have attached the necessary financial documents to support my current circumstances, including bank statements, pay stubs, and any other relevant proof of income and expenses. I trust this additional information will aid in understanding my need for an extension. I highly value our previous working relationship, and I hope that you can grant this extension, considering my genuine commitment to fulfill the promissory note. Furthermore, I aim to maintain our positive relationship, and you're understanding and flexibility in this matter would be greatly appreciated. Please feel free to contact me at [Your Phone Number] or [Your Email Address] to discuss this matter further or provide any additional documentation you may require. I look forward to finding a suitable resolution that benefits both parties involved. Thank you for your time, consideration, and understanding. I am hopeful that you will grant this request and work with me during this challenging period. Sincerely, [Your Name] [Your Address] [City, State, Zip Code] [Your Phone Number] [Your Email Address]

Subject: Request for Extension of Time on Promissory Note — [Your Name] Dear [Lender's Name], I hope this letter finds you in good health. I am writing to formally request an extension of time on the promissory note dated [Promissory Note Date] that requires full repayment by [Original Due Date]. Due to unforeseen circumstances, I am unable to fulfill this obligation within the provided timeframe. I apologize for any inconvenience this may cause, but I am currently facing [mention reasons causing temporary financial constraints, such as a reduction in income, unexpected medical expenses, or job loss]. Despite my best efforts to meet the original repayment schedule, I am currently unable to honor my commitment without experiencing undue financial strain. Considering my strong determination to fulfill this obligation, I kindly request an extension of [State the proposed extended repayment duration, for instance, 60 days or any suitable timeframe]. This extension will allow me to reorganize my finances, address these temporary setbacks, and meet my financial responsibilities with you. I assure you that I am fully committed to repaying this debt and intend to honor my obligations as soon as my financial situation improves. I am actively taking steps to enhance my income streams and carefully manage my expenses to ensure a timely and complete repayment. Furthermore, I completely understand that an extension places an extra burden on you as the lender, and I am more than willing to discuss any additional terms or conditions necessary to carry out the extension successfully. If there are any fees or charges associated with this extension, please notify me at your earliest convenience so that we may discuss and incorporate them into the revised agreement. To facilitate this request, I have attached the necessary financial documents to support my current circumstances, including bank statements, pay stubs, and any other relevant proof of income and expenses. I trust this additional information will aid in understanding my need for an extension. I highly value our previous working relationship, and I hope that you can grant this extension, considering my genuine commitment to fulfill the promissory note. Furthermore, I aim to maintain our positive relationship, and you're understanding and flexibility in this matter would be greatly appreciated. Please feel free to contact me at [Your Phone Number] or [Your Email Address] to discuss this matter further or provide any additional documentation you may require. I look forward to finding a suitable resolution that benefits both parties involved. Thank you for your time, consideration, and understanding. I am hopeful that you will grant this request and work with me during this challenging period. Sincerely, [Your Name] [Your Address] [City, State, Zip Code] [Your Phone Number] [Your Email Address]