Kansas 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.

Dear [Creditor's Name], I am writing to discuss a possible extension of the debt payment for the outstanding balance on my account. I am fully committed to resolving my financial obligations and would like to propose an agreement to extend the timeframe for repayment. Due to unforeseen circumstances, I have encountered financial challenges that have made it difficult for me to meet the current payment terms. However, I strongly believe that with a little more time, I will be able to fulfill my debt obligations in full. As a resident of Kansas, I am aware that there are specific guidelines and legal procedures in place to safeguard both the debtor's and creditor's rights. I am eager to follow these guidelines accordingly and come to a mutually beneficial agreement that would accommodate my financial situation while providing you with reassurance of my commitment to resolve the debt. I propose extending the repayment period by [number of months]. This additional time will allow me to stabilize my financial standing and ensure timely payments moving forward. I assure you that I am fully dedicated to this resolution, and it is of utmost importance to me to satisfy my debt obligations as soon as possible. I understand that an extension may require adjustments to the terms and conditions of the original agreement. Furthermore, I am open to discussing any modifications or alternatives that would be acceptable to both parties. It is vital for me to find a solution that respects both your rights as a creditor and my responsibility as a debtor. Should you agree to this proposal, I kindly request the amendment to the original agreement be formalized in writing. This letter would serve as a legally binding documentation of our agreement, protecting the interests of both parties. Please find attached relevant financial documentation supporting my request, including income statements, expense reports, and a detailed plan indicating how I will ensure timely payments during the extended period. I hope this demonstrates my sincerity and commitment to resolving this matter. I kindly ask you to consider my proposal to extend the debt payment. You're understanding and cooperation would relieve a significant burden, allowing me to regain control over my finances. I would appreciate a prompt response to discuss the possibilities further. I am available to meet in person, speak over the phone, or communicate via email, whichever is most convenient for you. Thank you for your time and attention. I look forward to reaching a positive and mutually beneficial resolution. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Phone Number] [Email Address] Possible keywords: Kansas, debt payment extension request, formal agreement, financial challenges, repayment period, negotiations, terms and conditions, legal procedures, debtor's rights, creditor's rights, financial documentation, income statements, expense reports, plan for timely payments, burden relief, mutually beneficial resolution, prompt response.