[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Agreement to Extend Debt Payment for [Account/Reference Number] Dear [Recipient's Name], I am writing to discuss the possibility of extending the payment terms for the outstanding debt owed on the above-mentioned account. Despite sincere efforts, I am currently facing financial difficulties that have made it challenging for me to meet the original payment schedule. After careful consideration of my circumstances, I would like to propose an agreement to extend the debt payment by [number of months]. This extension will allow me ample time to stabilize my financial situation and allocate appropriate funds towards the repayment of my debt. I assure you that I remain fully committed to clearing my outstanding balance and appreciate your cooperation during this time. I sincerely apologize for any inconvenience this may have caused and hope to resolve this matter amicably. To solidify this agreement, I kindly request the following terms be implemented: 1. Extension Duration: I propose extending the payment period for [number of months] months, starting from [proposed new start date]. This will provide me with sufficient time to gather the necessary funds and fulfill my obligations. 2. Monthly Payment Adjustment: In an effort to progressively address my debt, I suggest modifying the monthly payment amount to [proposed new payment amount]. This revised amount considers my current financial situation while ensuring steady progress towards full repayment. 3. Interest Accrual: I understand that interest may continue to accrue during the extended payment period as per the terms and conditions of our original agreement. I accept this and acknowledge my responsibility to pay any accrued interest. I believe these proposed amendments to our debt payment arrangement are fair and reasonable, taking into account my present circumstances. Furthermore, I kindly request your approval of this extended payment plan by signing and returning a copy of this letter. Please find enclosed a copy of my current financial statement, which outlines my income, expenses, and provides supportive documentation. I trust that this will help provide a clear overview of my financial position and strengthen my request for an extension. I anticipate a positive response and an agreement acknowledging these proposed changes within [specific time frame, e.g., 14 days] of receiving this letter. This will aid me in managing my financial commitments effectively and alleviate any unnecessary stress associated with the current repayment terms. Thank you for your understanding and cooperation in this matter. Should you have any questions or require further information, please do not hesitate to contact me at [phone number] or [email address]. I look forward to resolving this situation promptly and appreciate your assistance. Yours sincerely, [Your Name]
Montana Sample Letter for Agreement to Extend Debt Payment
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US-0052LR
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This form is a sample letter in Word format covering the subject matter of the title of the form.
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Tax Planning Tax filing for sole proprietors Income Tax calculation Income Tax calculator Income tax return 2017 Get started with IRS The Bankruptcy Act 2001 defines what bankruptcy is — a legal process to secure repayment of debts following the insolvency of someone who has not been able to meet their financial obligations to the other person. The debtor has entered into a legal agreement with the trustee that requires the trustee to apply the principles of the law of bankruptcy in order to secure the repayment of debts. In the case of non-business or small-scale businesses, the terms and conditions of a bankruptcy are agreed between the parties in advance. In the main, a trustee will be appointed as administrator for any unsecured liabilities of the bankrupt. After the trustees have performed their duties, there will be the option of appointing a receiver, liquidator, or creditor to take possession of the property, or the trustee can issue notes.
