South Dakota 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. [Your Name] [Your Address] [City, State, ZIP] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Agreement to Extend Debt Payment Dear [Debtor's Name], I hope this letter finds you in good health and high spirits. I am writing to propose an extension of the debt payment timeline as per our previous agreement. This extension will provide us with a more feasible repayment schedule and assist in alleviating any financial strain you may be experiencing. As residents of South Dakota, we understand that unforeseen circumstances can impact one's ability to meet financial obligations. Therefore, we believe it is essential to maintain open communication and come to a mutually beneficial arrangement. Accordingly, I propose the following terms for extending the debt payment schedule: 1. Extended Payment Duration: The original payment period of [original duration] will be extended to [proposed extended duration], providing you with additional time to settle the outstanding amount. 2. Payment Modification: In order to accommodate your financial constraints, we suggest modifying the payment amounts during the extended period. The proposed new monthly payment will be [amount in dollars], to be paid on the [specific day] of each month. 3. Interest Calculation: During the extended payment period, we agree to temporarily suspend the accrual of any interest on the outstanding balance. 4. Confirmation of Agreement: To proceed with this agreement, we kindly request your signed acknowledgment on the enclosed copy of this letter, indicating your acceptance of the proposed terms. Please understand that accepting this proposal is contingent upon prompt and consistent adherence to the newly modified repayment plan. Failure to meet these obligations may result in the cancellation of this extension agreement and the resumption of the original terms. We genuinely believe that this agreement will assist you in resolving your financial matters while maintaining a positive relationship. Our aim is to ensure both parties benefit from this extended arrangement to ultimately achieve a satisfactory resolution. To discuss this matter further, please do not hesitate to contact me at [your phone number] or [your email address]. We are committed to working with you to find the most suitable solution and address any questions or concerns you may have. Thank you for your prompt attention to this matter. We look forward to receiving your signed acknowledgment and to moving forward with this agreement. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Agreement to Extend Debt Payment Dear [Debtor's Name], I hope this letter finds you in good health and high spirits. I am writing to propose an extension of the debt payment timeline as per our previous agreement. This extension will provide us with a more feasible repayment schedule and assist in alleviating any financial strain you may be experiencing. As residents of South Dakota, we understand that unforeseen circumstances can impact one's ability to meet financial obligations. Therefore, we believe it is essential to maintain open communication and come to a mutually beneficial arrangement. Accordingly, I propose the following terms for extending the debt payment schedule: 1. Extended Payment Duration: The original payment period of [original duration] will be extended to [proposed extended duration], providing you with additional time to settle the outstanding amount. 2. Payment Modification: In order to accommodate your financial constraints, we suggest modifying the payment amounts during the extended period. The proposed new monthly payment will be [amount in dollars], to be paid on the [specific day] of each month. 3. Interest Calculation: During the extended payment period, we agree to temporarily suspend the accrual of any interest on the outstanding balance. 4. Confirmation of Agreement: To proceed with this agreement, we kindly request your signed acknowledgment on the enclosed copy of this letter, indicating your acceptance of the proposed terms. Please understand that accepting this proposal is contingent upon prompt and consistent adherence to the newly modified repayment plan. Failure to meet these obligations may result in the cancellation of this extension agreement and the resumption of the original terms. We genuinely believe that this agreement will assist you in resolving your financial matters while maintaining a positive relationship. Our aim is to ensure both parties benefit from this extended arrangement to ultimately achieve a satisfactory resolution. To discuss this matter further, please do not hesitate to contact me at [your phone number] or [your email address]. We are committed to working with you to find the most suitable solution and address any questions or concerns you may have. Thank you for your prompt attention to this matter. We look forward to receiving your signed acknowledgment and to moving forward with this agreement. Yours sincerely, [Your Name]