Oakland Michigan Sample Letter for Request for Extension of Time on Promissory Note

• Category: Letters - Nonlegal - Requests
• State: Multi-State
• County: Oakland
• 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 formally request an extension of time on the promissory note that I currently have with [Lender's Name]. I am seeking this extension due to unforeseen circumstances that have impacted my financial situation. Furthermore, I am a resident of Oakland, Michigan, and have been a responsible borrower throughout the duration of this loan term. Unfortunately, I have encountered some unexpected financial challenges that are beyond my control. Due to these circumstances, I am unable to meet the specified repayment deadline as stated in the promissory note. I assure you that I am fully committed to fulfilling the terms of the promissory note, and I genuinely intend to repay the loan in its entirety. However, the current circumstances make it impossible for me to meet the repayment deadline. I am requesting an extension of [number of days/weeks/months] to enable me to arrange the necessary funds to fulfill my financial obligations. I understand that this extension request might lead to additional interest accruing on the outstanding balance. Furthermore, I am willing to comply with any conditions that you may propose to ensure a successful extension of time. Please let me know if you require additional documentation or information to evaluate my request further. I believe that granting this extension will be mutually beneficial for both parties involved. It will ensure that I can continue to honor my financial commitments while minimizing the risk of defaulting on the promissory note. This extension will also allow me to explore alternative avenues to secure the necessary funds. I kindly request that you review my situation and respond to this letter as soon as possible. I appreciate your understanding and flexibility during this challenging time. Furthermore, I am confident that with an extension, I will be able to fulfill my obligations in a timely manner. Thank you for considering my request. I look forward to hearing from you soon. Sincerely, [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number]

Dear [Lender's Name], I hope this letter finds you in good health. I am writing to formally request an extension of time on the promissory note that I currently have with [Lender's Name]. I am seeking this extension due to unforeseen circumstances that have impacted my financial situation. Furthermore, I am a resident of Oakland, Michigan, and have been a responsible borrower throughout the duration of this loan term. Unfortunately, I have encountered some unexpected financial challenges that are beyond my control. Due to these circumstances, I am unable to meet the specified repayment deadline as stated in the promissory note. I assure you that I am fully committed to fulfilling the terms of the promissory note, and I genuinely intend to repay the loan in its entirety. However, the current circumstances make it impossible for me to meet the repayment deadline. I am requesting an extension of [number of days/weeks/months] to enable me to arrange the necessary funds to fulfill my financial obligations. I understand that this extension request might lead to additional interest accruing on the outstanding balance. Furthermore, I am willing to comply with any conditions that you may propose to ensure a successful extension of time. Please let me know if you require additional documentation or information to evaluate my request further. I believe that granting this extension will be mutually beneficial for both parties involved. It will ensure that I can continue to honor my financial commitments while minimizing the risk of defaulting on the promissory note. This extension will also allow me to explore alternative avenues to secure the necessary funds. I kindly request that you review my situation and respond to this letter as soon as possible. I appreciate your understanding and flexibility during this challenging time. Furthermore, I am confident that with an extension, I will be able to fulfill my obligations in a timely manner. Thank you for considering my request. I look forward to hearing from you soon. Sincerely, [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number]