Rhode Island 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 [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Title] [Company Name] [Address] [City, State, ZIP] Subject: Request for Extension of Time on Promissory Note Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to request a time extension on the promissory note [number], which was executed on [date]. Due to unforeseen circumstances, I am unable to fulfill the payment obligations within the originally agreed timeline. I would like to emphasize my commitment to fulfilling this obligation and maintaining a mutually beneficial relationship. Despite the temporary setback, I am confident about meeting my financial obligations. However, I sincerely request an extension of [number of days/weeks] to allow me sufficient time to gather the necessary funds. With respect to the terms outlined in the original agreement, I would like to propose the following terms for the extension: 1. Extended Due Date: The repayment deadline should be extended from the original [original due date] to [proposed new due date]. 2. Revised Payment Schedule: If a lump sum payment is not possible by the new due date, I request permission to pay in installments over [number of months/years]. I assure you that I will make the payments promptly and in full to honor the original terms. 3. Additional Costs: If any additional interest or fees are applicable due to this extension, please provide me with a detailed breakdown so that I can adjust my financial planning accordingly. I understand that this request may cause inconvenience and I genuinely apologize for any disruption caused. However, I believe that granting this extension will strengthen our business relationship and demonstrate my commitment to upholding my financial responsibilities. I kindly request your prompt consideration of this extension request. To further discuss this matter, I am available at your convenience. Please feel free to contact me via phone or email provided above. Thank you for your understanding and cooperation. I sincerely appreciate your support and look forward to resolving this situation amicably. Yours faithfully, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Title] [Company Name] [Address] [City, State, ZIP] Subject: Request for Extension of Time on Promissory Note Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to request a time extension on the promissory note [number], which was executed on [date]. Due to unforeseen circumstances, I am unable to fulfill the payment obligations within the originally agreed timeline. I would like to emphasize my commitment to fulfilling this obligation and maintaining a mutually beneficial relationship. Despite the temporary setback, I am confident about meeting my financial obligations. However, I sincerely request an extension of [number of days/weeks] to allow me sufficient time to gather the necessary funds. With respect to the terms outlined in the original agreement, I would like to propose the following terms for the extension: 1. Extended Due Date: The repayment deadline should be extended from the original [original due date] to [proposed new due date]. 2. Revised Payment Schedule: If a lump sum payment is not possible by the new due date, I request permission to pay in installments over [number of months/years]. I assure you that I will make the payments promptly and in full to honor the original terms. 3. Additional Costs: If any additional interest or fees are applicable due to this extension, please provide me with a detailed breakdown so that I can adjust my financial planning accordingly. I understand that this request may cause inconvenience and I genuinely apologize for any disruption caused. However, I believe that granting this extension will strengthen our business relationship and demonstrate my commitment to upholding my financial responsibilities. I kindly request your prompt consideration of this extension request. To further discuss this matter, I am available at your convenience. Please feel free to contact me via phone or email provided above. Thank you for your understanding and cooperation. I sincerely appreciate your support and look forward to resolving this situation amicably. Yours faithfully, [Your Name]