Wisconsin 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 Dear [Lender's Name], I am writing to formally request an extension of time on the promissory note dated [date of the promissory note] regarding the loan I received from [lender's name]. I am currently facing unexpected financial difficulties, which have caused a temporary delay in making the repayment as agreed upon. I am residing in Wisconsin and, as per the laws and regulations governing promissory notes in this state, I am entitled to request an extension of time on my payment obligation. Wisconsin's law recognizes the importance of acting in good faith, and I assure you that my intention is to fulfill my financial obligations promptly. Due to [briefly explain the situation causing the financial difficulties], I am unable to make the payment by the original due date of [original due date]. In light of this, I kindly request an extension of [state the desired extension period] to ensure I can fulfill my financial commitments without defaulting on the loan. I understand that an extension may result in additional interest or fees as stated in the terms of the promissory note. I acknowledge and accept any such charges that may be applicable and agree to make the necessary arrangements to cover them. To demonstrate my commitment to fulfilling this financial obligation, I have enclosed a detailed plan outlining how I intend to resolve the current financial difficulties and manage future repayments effectively. This plan includes [briefly describe the plan, such as additional income sources, expense reductions, or financial assistance from other sources]. I kindly request that you carefully review my request for extension of time and consider the circumstances of my financial situation in good faith. I am fully committed to honoring my legal and financial responsibilities and aim to repay this loan as promptly as possible. Please provide me with a written response acknowledging and confirming the extension of time and any associated terms. I appreciate your understanding and assistance during this challenging time. Thank you for your prompt attention to this matter. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] Different types of Wisconsin Sample Letter for Request for Extension of Time on Promissory Note may include variations based on specific situations, such as: 1. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Medical Hardship: This type of letter would focus on medical reasons that have caused financial difficulties leading to a delay in repayment. 2. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Unemployment: This letter would explain the request for an extension due to unexpected job loss and resulting financial hardships. 3. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Natural Disasters: If the borrower was affected by a natural disaster, like a flood, tornado, or fire, this letter would detail the impact on their ability to make timely payments. 4. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Unexpected Expenses: This type of letter would address unforeseen expenses, such as significant home or car repairs, that have caused financial strain and delayed repayment. It is essential to tailor the letter to the specific circumstances while adhering to Wisconsin's laws and regulations. Always consult legal professionals or financial advisors for accurate advice and guidance in such matters.

Dear [Lender's Name], I am writing to formally request an extension of time on the promissory note dated [date of the promissory note] regarding the loan I received from [lender's name]. I am currently facing unexpected financial difficulties, which have caused a temporary delay in making the repayment as agreed upon. I am residing in Wisconsin and, as per the laws and regulations governing promissory notes in this state, I am entitled to request an extension of time on my payment obligation. Wisconsin's law recognizes the importance of acting in good faith, and I assure you that my intention is to fulfill my financial obligations promptly. Due to [briefly explain the situation causing the financial difficulties], I am unable to make the payment by the original due date of [original due date]. In light of this, I kindly request an extension of [state the desired extension period] to ensure I can fulfill my financial commitments without defaulting on the loan. I understand that an extension may result in additional interest or fees as stated in the terms of the promissory note. I acknowledge and accept any such charges that may be applicable and agree to make the necessary arrangements to cover them. To demonstrate my commitment to fulfilling this financial obligation, I have enclosed a detailed plan outlining how I intend to resolve the current financial difficulties and manage future repayments effectively. This plan includes [briefly describe the plan, such as additional income sources, expense reductions, or financial assistance from other sources]. I kindly request that you carefully review my request for extension of time and consider the circumstances of my financial situation in good faith. I am fully committed to honoring my legal and financial responsibilities and aim to repay this loan as promptly as possible. Please provide me with a written response acknowledging and confirming the extension of time and any associated terms. I appreciate your understanding and assistance during this challenging time. Thank you for your prompt attention to this matter. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] Different types of Wisconsin Sample Letter for Request for Extension of Time on Promissory Note may include variations based on specific situations, such as: 1. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Medical Hardship: This type of letter would focus on medical reasons that have caused financial difficulties leading to a delay in repayment. 2. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Unemployment: This letter would explain the request for an extension due to unexpected job loss and resulting financial hardships. 3. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Natural Disasters: If the borrower was affected by a natural disaster, like a flood, tornado, or fire, this letter would detail the impact on their ability to make timely payments. 4. Wisconsin Sample Letter for Request for Extension of Time on Promissory Note for Unexpected Expenses: This type of letter would address unforeseen expenses, such as significant home or car repairs, that have caused financial strain and delayed repayment. It is essential to tailor the letter to the specific circumstances while adhering to Wisconsin's laws and regulations. Always consult legal professionals or financial advisors for accurate advice and guidance in such matters.