Puerto Rico 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 for Puerto Rico Dear [Lender's Name], I hope this letter finds you in good health and high spirits. I am writing to discuss an urgent matter regarding the promissory note we entered into for [loan amount] on [date]. Due to unforeseen circumstances, I am requesting an extension of time on the repayment schedule for the loan. As you may be aware, Puerto Rico is a beautiful Caribbean island and unincorporated territory of the United States. Located in the northeastern Caribbean Sea, it is known for its stunning beaches, lush rainforests, vibrant culture, and friendly people. Its capital city, San Juan, combines rich history with modern amenities, making it a popular tourist destination. The people of Puerto Rico have faced significant challenges in recent years, including the devastating impact of Hurricane Maria in 2017 and subsequent financial crisis. These events have had a profound effect on the economy and the day-to-day lives of its residents. It is against this backdrop that I find myself in need of an extension on my promissory note. Presently, I am experiencing unexpected financial hardships that have made it difficult to meet the current repayment schedule. I assure you that this situation is temporary, and I am actively working to improve my financial circumstances. However, requesting an extension on the promissory note will provide me with the time needed to regain stability and fulfill my financial obligations without defaulting on the loan. In consideration of the above, I kindly request an extension of [mention the desired extension period, e.g., 90 days] for the repayment of the promissory note. This additional time will allow me to allocate resources effectively and ensure prompt repayment, without burdening my current financial situation. I understand that any extension granted will require an amendment to the original terms of the note. Therefore, I am willing to discuss and negotiate any new terms or conditions that you deem necessary to ensure a fair and mutually beneficial agreement. My goal is to uphold my responsibility as a borrower while being mindful of my current circumstances. I would greatly appreciate your understanding and positive consideration of my request. By granting this extension, you will provide me with the opportunity to fulfill my obligations and maintain a positive financial relationship for both parties involved. I am committed to regular communication and transparency throughout this process. Please feel free to contact me at [your contact information] or [email address] to further discuss this matter or to request any additional documentation needed. I look forward to resolving this matter amicably and promptly. Thank you for your attention and consideration. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number]

Subject: Request for Extension of Time on Promissory Note for Puerto Rico Dear [Lender's Name], I hope this letter finds you in good health and high spirits. I am writing to discuss an urgent matter regarding the promissory note we entered into for [loan amount] on [date]. Due to unforeseen circumstances, I am requesting an extension of time on the repayment schedule for the loan. As you may be aware, Puerto Rico is a beautiful Caribbean island and unincorporated territory of the United States. Located in the northeastern Caribbean Sea, it is known for its stunning beaches, lush rainforests, vibrant culture, and friendly people. Its capital city, San Juan, combines rich history with modern amenities, making it a popular tourist destination. The people of Puerto Rico have faced significant challenges in recent years, including the devastating impact of Hurricane Maria in 2017 and subsequent financial crisis. These events have had a profound effect on the economy and the day-to-day lives of its residents. It is against this backdrop that I find myself in need of an extension on my promissory note. Presently, I am experiencing unexpected financial hardships that have made it difficult to meet the current repayment schedule. I assure you that this situation is temporary, and I am actively working to improve my financial circumstances. However, requesting an extension on the promissory note will provide me with the time needed to regain stability and fulfill my financial obligations without defaulting on the loan. In consideration of the above, I kindly request an extension of [mention the desired extension period, e.g., 90 days] for the repayment of the promissory note. This additional time will allow me to allocate resources effectively and ensure prompt repayment, without burdening my current financial situation. I understand that any extension granted will require an amendment to the original terms of the note. Therefore, I am willing to discuss and negotiate any new terms or conditions that you deem necessary to ensure a fair and mutually beneficial agreement. My goal is to uphold my responsibility as a borrower while being mindful of my current circumstances. I would greatly appreciate your understanding and positive consideration of my request. By granting this extension, you will provide me with the opportunity to fulfill my obligations and maintain a positive financial relationship for both parties involved. I am committed to regular communication and transparency throughout this process. Please feel free to contact me at [your contact information] or [email address] to further discuss this matter or to request any additional documentation needed. I look forward to resolving this matter amicably and promptly. Thank you for your attention and consideration. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number]