Dear [Name], I hope this letter finds you well. I am writing to discuss an important matter regarding the repayment of the debt owed to [Creditor]. Due to unforeseen circumstances, I find myself unable to meet the originally agreed-upon payment schedule. I understand the significance of meeting my financial obligations and wish to assure you that I am committed to resolving this matter. Therefore, I propose an extension of the debt payment period, which would provide me with the necessary time to stabilize my financial situation and fulfill my debt obligations effectively. I kindly request your understanding and cooperation in granting me an extension of [timeframe] to complete the repayment. This additional time will allow me to address the current financial constraints I am facing and enable me to make regular payments towards the outstanding debt. I assure you that this situation is temporary, and I am actively working towards improving my financial stability. I have carefully analyzed my income and expenses and am confident that the extension will allow me to manage the debt more effectively. To show my commitment and good faith, I am enclosing a detailed budget plan outlining my income, expenses, and the proposed revised payment schedule. I have taken into account my essential living expenses, including housing, utilities, transportation, food, and healthcare, while allocating a reasonable amount towards the repayment of the debt. I understand that you may have concerns about this request and its potential impact on your business. To address these concerns, I offer the following: 1. Interest: I am open to discussing the possibility of a minor adjustment in the interest rate to compensate for the extended period. I believe this would be a fair approach that benefits both parties. 2. Regular Updates: I commit to providing you with monthly progress reports, including an overview of my financial situation and a statement of accounts documenting the payments made towards the debt. These reports will ensure transparency and keep you informed about the progress being made. 3. Collateral: If necessary, I am willing to discuss providing collateral or guarantors to secure the debt during the extended period. This will provide an additional layer of security for you and can help alleviate any concerns you may have. I sincerely request your understanding in considering this extension of the debt payment period. I understand that Hillsborough County, Florida, might have specific laws or guidelines regarding debt repayment agreements. Therefore, I am willing to work within the legal framework and would greatly appreciate your guidance in modifying this agreement to align it with any local regulations. I assure you that I will make every effort to honor this extended agreement promptly and diligently. I value your understanding, and your cooperation in this matter would greatly support me in resolving my financial challenges. Thank you for your attention to this request. I kindly request a prompt response to discuss this matter further. I am available at your convenience to answer any questions or provide any additional information you may require. Yours sincerely, [Your Name] [Your Contact Information]