Title: Oregon Sample Letter for Requesting Extension of Time on Promissory Note Introduction: In Oregon, if you find yourself in a situation where you are unable to meet the payment deadline specified in a promissory note, it is possible to request an extension of time. This sample letter will provide you with a detailed description and guidelines on how to construct a well-crafted request for an extension of time on a promissory note. Sample Letter for Request for Extension of Time on Promissory Note: [Your Name] [Your Address] [City, State, ZIP Code] [Date] [Lender's Name] [Financial Institution's Name] [Address] [City, State, ZIP Code] Dear [Lender's Name], Subject: Request for Extension of Time on Promissory Note I am writing to request an extension of time on the promissory note [Note reference number] that was executed on [Date of promissory note]. Due to unforeseen circumstances, I am unable to fulfill the payment obligations within the originally specified timeframe. I fully understand and acknowledge my responsibility to honor the terms outlined in the promissory note and the associated consequences of failure to comply. However, I kindly request that you consider granting me an extension of [duration of extension] to provide me with the necessary breathing room to meet my obligations and fulfill my commitment with you. [Provide a brief explanation of the reason for the extension request. It is essential to maintain honesty and clarity in your communication. Possible valid reasons could be loss of employment, medical conditions, financial hardship, or any other justifiable circumstances.] To demonstrate my commitment to this request, I am willing to cooperate and implement the following alternative solutions: 1. [Suggestion 1]: Indicate any alternative payment plans or adjusted terms that could facilitate repayment within the extended timeframe. 2. [Suggestion 2]: Offer additional collateral or a revised repayment schedule to instill confidence and mitigate potential risks associated with the extension. I understand that any extension granted will attract additional interest, and I am ready to bear the associated costs. I assure you that this extension will not hinder my determination to resolve my financial obligations with you. Please find enclosed the supporting documents pertaining to my current financial situation, which should provide you with a comprehensive understanding of my circumstances. Additionally, if there are any forms or documents required to formalize this extension request, kindly inform me, and I will promptly provide them. I genuinely appreciate your time and understanding in considering my request. Your cooperation will greatly alleviate my present financial strain and enable me to meet my obligations responsibly. I am committed to maintaining open communication throughout this process. Thank you for your attention, and I eagerly await your response. Please do not hesitate to reach me at [Your Contact Information] for any further discussion or clarification. Sincerely, [Your Name] Types of Oregon Sample Letters for Request for Extension of Time on Promissory Note: 1. Oregon Sample Letter for Request for Extension of Time on Promissory Note due to financial hardship 2. Oregon Sample Letter for Request for Extension of Time on Promissory Note due to loss of employment 3. Oregon Sample Letter for Request for Extension of Time on Promissory Note due to medical reasons 4. Oregon Sample Letter for Request for Extension of Time on Promissory Note providing alternative repayment plans or terms.
Oregon Sample Letter for Request for Extension of Time on Promissory Note
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How to fill out Oregon Sample Letter For Request For Extension Of Time On Promissory Note?
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