Houston Texas Sample Letter for Agreement to Extend Debt Payment

• Category: Letters - Nonlegal - Agreements
• State: Multi-State
• City: Houston
• 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] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Agreement to Extend Debt Payment for [Account/Loan Number] Dear [Recipient's Name], I hope this letter finds you well. I am writing to discuss a matter concerning the repayment of the outstanding debt on my account/loan with [Creditor's Name]. Due to unforeseen financial constraints, I am unable to meet the agreed-upon repayment schedule. I am writing to request an extension on the debt payment. I firmly believe that extending the repayment period will allow me to fulfill my financial obligations without any further defaults. Hence, I propose an amended repayment plan that will be mutually beneficial and reasonable. Outlined below is the proposed extension plan: 1. Revised Monthly Payment Amount: [Specify the revised amount you can afford to pay monthly] 2. Extended Repayment Period: [Specify the duration of the proposed extension, for example, six months, one year, etc.] 3. Revised Payment Schedule: [State when and how you plan to make the revised monthly payments. Include information such as payment method, whether it will be sent electronically or through mail, and if applicable, provide details for any automated payment systems.] I understand that additional interest may accrue during the extended repayment period. However, I would like to kindly request that you consider freezing or minimizing any penalties or late fees that may apply, given my effort to fulfill my financial commitment within the revised timeline. To demonstrate my commitment to this agreement, I am enclosing a partial payment of [Specify the amount, if applicable] which shows my dedication to resolving this matter promptly. Moreover, I commit to maintaining regular and timely payments throughout the extended repayment period. Please do not hesitate to contact me at [Your Phone Number] or [Your Email Address], should you have any queries, require further documentation, or wish to discuss this matter in detail. I am open to negotiations and finding a solution that is agreeable to both parties involved. I request that you acknowledge receipt of this agreement and provide me with written confirmation of your acceptance, including the revised terms. Kindly send the agreement confirmation to the address provided above or via email at [Your Email Address], no later than [Specify a reasonable deadline]. Thank you for considering my request for an extension on the debt payment. I genuinely appreciate your understanding and willingness to work together to resolve this matter. I look forward to receiving your positive response. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Agreement to Extend Debt Payment for [Account/Loan Number] Dear [Recipient's Name], I hope this letter finds you well. I am writing to discuss a matter concerning the repayment of the outstanding debt on my account/loan with [Creditor's Name]. Due to unforeseen financial constraints, I am unable to meet the agreed-upon repayment schedule. I am writing to request an extension on the debt payment. I firmly believe that extending the repayment period will allow me to fulfill my financial obligations without any further defaults. Hence, I propose an amended repayment plan that will be mutually beneficial and reasonable. Outlined below is the proposed extension plan: 1. Revised Monthly Payment Amount: [Specify the revised amount you can afford to pay monthly] 2. Extended Repayment Period: [Specify the duration of the proposed extension, for example, six months, one year, etc.] 3. Revised Payment Schedule: [State when and how you plan to make the revised monthly payments. Include information such as payment method, whether it will be sent electronically or through mail, and if applicable, provide details for any automated payment systems.] I understand that additional interest may accrue during the extended repayment period. However, I would like to kindly request that you consider freezing or minimizing any penalties or late fees that may apply, given my effort to fulfill my financial commitment within the revised timeline. To demonstrate my commitment to this agreement, I am enclosing a partial payment of [Specify the amount, if applicable] which shows my dedication to resolving this matter promptly. Moreover, I commit to maintaining regular and timely payments throughout the extended repayment period. Please do not hesitate to contact me at [Your Phone Number] or [Your Email Address], should you have any queries, require further documentation, or wish to discuss this matter in detail. I am open to negotiations and finding a solution that is agreeable to both parties involved. I request that you acknowledge receipt of this agreement and provide me with written confirmation of your acceptance, including the revised terms. Kindly send the agreement confirmation to the address provided above or via email at [Your Email Address], no later than [Specify a reasonable deadline]. Thank you for considering my request for an extension on the debt payment. I genuinely appreciate your understanding and willingness to work together to resolve this matter. I look forward to receiving your positive response. Yours sincerely, [Your Name]