[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Name of the Lender] [Address of the Lender] [City, State, ZIP] Subject: Request for Extension of Time on Promissory Note Dear [Name of the Lender], I hope this letter finds you in good health and high spirits. I am writing to formally request an extension of time on my promissory note, which I have with your financial institution. I have been a valued customer of your organization for [number of years] and have always maintained a good relationship with your institution. Due to unforeseen circumstances, I am experiencing temporary financial difficulties which have hindered my ability to make my scheduled payment on the promissory note on time. I understand my obligation to repay the loan amount and fully intend to honor my commitment. However, I kindly request your understanding and assistance during this challenging period. I am confident that my financial situation will improve within the upcoming [number of months] months, which will enable me to resume my regular payments. To demonstrate my sincerity, I have attached supporting documents that provide an overview of my current financial situation. Included are bank statements, income statements, and any other relevant documents to support my request for an extension. I propose to extend the repayment deadline of the promissory note by [number of months], allowing me to get back on track with my financial obligations. I am committed to paying any accrued interest on the outstanding balance during this extension period. In addition, I am open to discussing alternative arrangements or negotiating revised payment terms that would benefit both parties involved. If necessary, I would be grateful if you could advise me on any additional documentation or information required to support my request or facilitate this process. I greatly appreciate your attention to this matter and sincerely hope you can accommodate my request for an extension of time. I remain dedicated to fulfilling my financial obligations and value the relationship with your institution. Furthermore, I assure you that this extension will be a temporary measure and that I will continue to maintain open communication regarding my financial situation. Please feel free to contact me at [phone number] or [email address] to discuss this matter further. Thank you for your understanding, compassion, and consideration of my request. Yours sincerely, [Your Name]
Alaska Sample Letter for Request for Extension of Time on Promissory Note
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(Cordially describe your greetings). We will try our best to make the payment on time and apologize for the inconvenience caused to you. I ask you to consider my request for postponement of the last day for the advance payment of the money promised according to the deal signed between us and your company (date).
I would very much appreciate such an extension, and assure you that I will be able to make a firm decision by that date. Thank you very much for your consideration of my request.
How do you ask for an extension deadline?Determine if an extension is possible.Don't put in a request at the last moment.Ask in person or by phone or email.Give a credible reason.Furnish proof of work done.Set a new deadline and stick to it.Thank the supervisor or manager.Make sure it doesn't happen again.
A promissory note extension is a legal document allowing an extension on the borrower's period in paying back a loan. For example, if a borrower has problems paying back their loan, or if the lender is asking for less time to repay it, the borrower can request an extension of their promissory notes.
I would like to state that my fee submission due date is (Date). I am having a financial crisis due to which I won't be able to pay my dues on time. (show your actual problem and situation). For which I would like to request to the registration office to extend due date till (Date).
How to Write a Promissory NoteDate.Name of the lender and borrower.Loan amount.Whether the loan is secured or unsecured. If it's secured with collateral: What is the collateral?Payment amount and frequency.Payment due date.Whether the loan has a cosigner, and if so, who.19-Aug-2021
Depending on which state you live in, the statute of limitations with regard to promissory notes can vary from three to 15 years. Once the statute of limitations has ended, a creditor can no longer file a lawsuit related to the unpaid promissory note.
My next specify payment will be due on , 20 . Due to an unexpected emergency that has occurred, I will be unable to make this payment by the date I am requesting an extension of time to make this payment.
To collect on a demand promissory note, you will need to send a demand for payment letter to the lender. This lets the lender know that you want the loan paid back now and that the repayment period is ending. This demand letter should include the following: The date of the letter.
Simple Promissory Note SampleInclude the date you are writing or the date you plan to send the note at the top. Write the total amount due in both numeric and long-form. Add a detailed description of the loan or note terms. For example, you'll need to include what the loan or payment is for, who will pay it and how.
