Georgia 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 Dear [Lender's Name], I hope this letter finds you well. I am writing to request an extension of time on the promissory note that I have with [Lender's Name] for [loan amount]. Due to unforeseen circumstances, I am unable to honor the payment deadline specified in the note, and I kindly ask for your understanding and flexibility in granting me additional time to fulfill my financial obligation. First and foremost, I want to express my gratitude for the opportunity you have provided me by financing my loan. I am aware of the importance of meeting the agreed-upon payment terms and assure you that I am committed to fulfilling my responsibilities. Unfortunately, circumstances beyond my control have arisen, affecting my ability to make timely repayment. [Provide specific details regarding the reasons for requesting the extension. For instance, it may be due to loss of employment, unexpected medical expenses, or any other valid grounds. This section should be personalized to reflect the specific situation.] I understand that this extension will not absolve me from my debt and that any remaining balance will continue to accrue interest during the extended period. To demonstrate my commitment to honoring this loan, I am willing to provide additional collateral or any documentation necessary to assure you of my intent to settle the debt. I greatly appreciate your consideration of my request and hope that you can grant an extension of [number of days/weeks/months]. This additional time will provide me with the necessary breathing space to overcome the challenges I currently face, without jeopardizing my relationship with you as my lender. If approved, I assure you that I will diligently adhere to the revised payment schedule and promptly communicate any further changes in circumstances. Furthermore, please be assured that I am actively seeking alternate sources of funds to fulfill my financial obligations as soon as possible. I request that you kindly inform me of your decision at your earliest convenience. I look forward to your understanding and cooperation in resolving this matter amicably. Should you require any additional information or documentation, please do not hesitate to contact me at [your contact information]. Thank you for your attention to this matter, and I sincerely hope for your favorable response. Yours sincerely, [Your Name] [Your Address] [City, State, ZIP] [Your Email Address] [Your Phone Number] Keywords: Georgia, letter, request for extension of time, promissory note, loan, payment, deadline, circumstances, financial obligation, unforeseen, repayment, collateral.

Dear [Lender's Name], I hope this letter finds you well. I am writing to request an extension of time on the promissory note that I have with [Lender's Name] for [loan amount]. Due to unforeseen circumstances, I am unable to honor the payment deadline specified in the note, and I kindly ask for your understanding and flexibility in granting me additional time to fulfill my financial obligation. First and foremost, I want to express my gratitude for the opportunity you have provided me by financing my loan. I am aware of the importance of meeting the agreed-upon payment terms and assure you that I am committed to fulfilling my responsibilities. Unfortunately, circumstances beyond my control have arisen, affecting my ability to make timely repayment. [Provide specific details regarding the reasons for requesting the extension. For instance, it may be due to loss of employment, unexpected medical expenses, or any other valid grounds. This section should be personalized to reflect the specific situation.] I understand that this extension will not absolve me from my debt and that any remaining balance will continue to accrue interest during the extended period. To demonstrate my commitment to honoring this loan, I am willing to provide additional collateral or any documentation necessary to assure you of my intent to settle the debt. I greatly appreciate your consideration of my request and hope that you can grant an extension of [number of days/weeks/months]. This additional time will provide me with the necessary breathing space to overcome the challenges I currently face, without jeopardizing my relationship with you as my lender. If approved, I assure you that I will diligently adhere to the revised payment schedule and promptly communicate any further changes in circumstances. Furthermore, please be assured that I am actively seeking alternate sources of funds to fulfill my financial obligations as soon as possible. I request that you kindly inform me of your decision at your earliest convenience. I look forward to your understanding and cooperation in resolving this matter amicably. Should you require any additional information or documentation, please do not hesitate to contact me at [your contact information]. Thank you for your attention to this matter, and I sincerely hope for your favorable response. Yours sincerely, [Your Name] [Your Address] [City, State, ZIP] [Your Email Address] [Your Phone Number] Keywords: Georgia, letter, request for extension of time, promissory note, loan, payment, deadline, circumstances, financial obligation, unforeseen, repayment, collateral.