[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Request for Extension of Time on Promissory Note Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to you as the borrower of a promissory note, which was executed between [Lender's Name] and myself on [date of execution]. The purpose of this letter is to formally request an extension of time on the repayment of the promissory note. As you may be aware, the current economic situation and various unexpected circumstances have significantly impacted my financial standing. Despite my sincere efforts to meet the repayment schedule previously established, I regret to inform you that I am experiencing temporary financial hardship that makes it difficult for me to fulfill my financial obligations on time. Considering the circumstances, I kindly request your understanding and cooperation in granting me an extension of [duration of extension] on the promissory note. This additional time will greatly assist me in stabilizing my financial situation and making appropriate arrangements for the repayment. I assure you that I remain fully committed to fulfilling my obligations under the promissory note, albeit with a slight delay. I understand that an extension of time may necessitate adjustments to the repayment terms, including any associated interest and fees. In recognition of this, I am prepared to discuss and negotiate any necessary modifications to the original agreement to ensure mutual satisfaction. I would be grateful if I could receive a written confirmation of your acceptance of this extension request, outlining any revised terms, if applicable. This will help me maintain a record of the updated agreement and provide clarity for both parties involved. I sincerely apologize for any inconvenience this may cause and deeply appreciate your patience and understanding during this challenging period. If you require any additional information or documentation to process this request, please do not hesitate to contact me. Thank you for your time and attention to this matter. I look forward to your favorable response, and I am confident that together we can reach a mutually beneficial solution. Yours sincerely, [Your Name]