South Dakota 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 Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Designation] [Name of Financial Institution] [Address] [City, State, ZIP Code] 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 formally request an extension of time on the promissory note dated [date of promissory note], regarding the loan account number [loan account number]. Due to unforeseen circumstances, I am currently facing some financial setbacks and need additional time to fulfill my obligation as per the terms of the promissory note. I have encountered unexpected medical expenses and a temporary loss of employment, which have significantly affected my ability to meet the scheduled repayment deadline on [due date]. I want to assure you that despite the current challenges, I am fully committed to honoring my financial responsibilities. To this end, I kindly request an extension of [number of days/weeks/months] to allow for a more realistic timeframe within which I can successfully fulfill my obligation under the promissory note. I understand that any extension granted will be subject to the institution's policies and terms. Therefore, I am willing to accept any revised terms, such as an adjustment in interest rate or an increase in the installment amount, to accommodate the extension request. I am also open to discussing alternative arrangements that would suit both parties involved. I apologize for any inconvenience caused and truly appreciate your understanding and consideration in this matter. Furthermore, I genuinely appreciate the flexibility and support your institution offers its customers, and I believe that a short extension will enable me to overcome these temporary financial hurdles and remain in good standing. To facilitate the process further, I have attached supporting documents detailing my current financial circumstances, such as recent bank statements, medical bills, and proof of unemployment. These documents provide a comprehensive overview of my situation and substantiate the need for an extension. I kindly request your prompt attention to this matter and would be grateful if you could communicate your decision regarding my request within [reasonable time frame]. If granted, I am committed to promptly resuming regular payments as per the revised schedule as soon as I regain stability in my financial situation. Thank you for your time, consideration, and understanding. Should you require any additional information or documentation, please do not hesitate to contact me at [phone number] or via email at [email address]. I am eager to work together with your institution to find a mutually beneficial solution. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Designation] [Name of Financial Institution] [Address] [City, State, ZIP Code] 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 formally request an extension of time on the promissory note dated [date of promissory note], regarding the loan account number [loan account number]. Due to unforeseen circumstances, I am currently facing some financial setbacks and need additional time to fulfill my obligation as per the terms of the promissory note. I have encountered unexpected medical expenses and a temporary loss of employment, which have significantly affected my ability to meet the scheduled repayment deadline on [due date]. I want to assure you that despite the current challenges, I am fully committed to honoring my financial responsibilities. To this end, I kindly request an extension of [number of days/weeks/months] to allow for a more realistic timeframe within which I can successfully fulfill my obligation under the promissory note. I understand that any extension granted will be subject to the institution's policies and terms. Therefore, I am willing to accept any revised terms, such as an adjustment in interest rate or an increase in the installment amount, to accommodate the extension request. I am also open to discussing alternative arrangements that would suit both parties involved. I apologize for any inconvenience caused and truly appreciate your understanding and consideration in this matter. Furthermore, I genuinely appreciate the flexibility and support your institution offers its customers, and I believe that a short extension will enable me to overcome these temporary financial hurdles and remain in good standing. To facilitate the process further, I have attached supporting documents detailing my current financial circumstances, such as recent bank statements, medical bills, and proof of unemployment. These documents provide a comprehensive overview of my situation and substantiate the need for an extension. I kindly request your prompt attention to this matter and would be grateful if you could communicate your decision regarding my request within [reasonable time frame]. If granted, I am committed to promptly resuming regular payments as per the revised schedule as soon as I regain stability in my financial situation. Thank you for your time, consideration, and understanding. Should you require any additional information or documentation, please do not hesitate to contact me at [phone number] or via email at [email address]. I am eager to work together with your institution to find a mutually beneficial solution. Yours sincerely, [Your Name]