Fulton Georgia Sample Letter for Request for Extension of Time on Promissory Note

• Category: Letters - Nonlegal - Requests
• State: Multi-State
• County: Fulton
• Control #: US-0395LR
• Format: Word; Rich Text

Description

Sample Letter for Request for Extension of Time on Promissory Note Dear [Lender's Name], I hope this letter finds you in good health. I am writing to request a reasonable extension of time on the promissory note signed with your esteemed institution. As per the terms of our agreement, the payment of [amount] was due on [date]; however, due to unforeseen financial circumstances, I am unable to fulfill this commitment on time. I trust that you understand that financial constraints can arise unexpectedly, and unfortunately, I find myself in such a situation. [Explain the reasons for the financial hardship briefly and concisely]. This has affected my ability to make the scheduled payment within the stipulated timeframe. I assure you that this is not an attempt to shirk my responsibilities, but rather a genuine request for your understanding and flexibility. I have always upheld my financial obligations and have previously made consistent and timely payments. It is my utmost intention to honor this agreement, but I am currently unable to meet the given deadline. Having carefully reviewed my financial situation, I am confident that an extension of [number of days/weeks] would provide me with the necessary time to arrange the required funds and fulfill my obligation to your institution. I kindly request that you consider granting me this extension, thereby allowing me to repay the loan in accordance with the revised schedule. To ensure transparency, I have attached a revised payment plan detailing how I intend to repay the loan in installments within the agreed-upon extension period. I have taken into account my financial capabilities and have devised this plan to reflect a reasonable repayment schedule that aligns with my income inflow. I understand that additional interest and charges may be applied due to the extension, and I am willing to bear these financial implications for this situation. Please notify me of any specific terms or conditions that I need to meet for the extension to be granted. I value our working relationship and hope that we can find a mutually beneficial solution to this temporary setback. I truly appreciate your consideration and your institution's willingness to work with me during this time of financial difficulty. Thank you for your attention to this matter. I look forward to a favorable response from your end. Should you require any further information or documentation, please do not hesitate to contact me at [your contact information]. You're understanding and cooperation are greatly appreciated. Yours sincerely, [Your Name] [Your Contact Information]

Dear [Lender's Name], I hope this letter finds you in good health. I am writing to request a reasonable extension of time on the promissory note signed with your esteemed institution. As per the terms of our agreement, the payment of [amount] was due on [date]; however, due to unforeseen financial circumstances, I am unable to fulfill this commitment on time. I trust that you understand that financial constraints can arise unexpectedly, and unfortunately, I find myself in such a situation. [Explain the reasons for the financial hardship briefly and concisely]. This has affected my ability to make the scheduled payment within the stipulated timeframe. I assure you that this is not an attempt to shirk my responsibilities, but rather a genuine request for your understanding and flexibility. I have always upheld my financial obligations and have previously made consistent and timely payments. It is my utmost intention to honor this agreement, but I am currently unable to meet the given deadline. Having carefully reviewed my financial situation, I am confident that an extension of [number of days/weeks] would provide me with the necessary time to arrange the required funds and fulfill my obligation to your institution. I kindly request that you consider granting me this extension, thereby allowing me to repay the loan in accordance with the revised schedule. To ensure transparency, I have attached a revised payment plan detailing how I intend to repay the loan in installments within the agreed-upon extension period. I have taken into account my financial capabilities and have devised this plan to reflect a reasonable repayment schedule that aligns with my income inflow. I understand that additional interest and charges may be applied due to the extension, and I am willing to bear these financial implications for this situation. Please notify me of any specific terms or conditions that I need to meet for the extension to be granted. I value our working relationship and hope that we can find a mutually beneficial solution to this temporary setback. I truly appreciate your consideration and your institution's willingness to work with me during this time of financial difficulty. Thank you for your attention to this matter. I look forward to a favorable response from your end. Should you require any further information or documentation, please do not hesitate to contact me at [your contact information]. You're understanding and cooperation are greatly appreciated. Yours sincerely, [Your Name] [Your Contact Information]