Subject: Request for Extension of Time on Promissory Note — [Your Name] 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 dated [Promissory Note Date] that requires full repayment by [Original Due Date]. Due to unforeseen circumstances, I am unable to fulfill this obligation within the provided timeframe. I apologize for any inconvenience this may cause, but I am currently facing [mention reasons causing temporary financial constraints, such as a reduction in income, unexpected medical expenses, or job loss]. Despite my best efforts to meet the original repayment schedule, I am currently unable to honor my commitment without experiencing undue financial strain. Considering my strong determination to fulfill this obligation, I kindly request an extension of [State the proposed extended repayment duration, for instance, 60 days or any suitable timeframe]. This extension will allow me to reorganize my finances, address these temporary setbacks, and meet my financial responsibilities with you. I assure you that I am fully committed to repaying this debt and intend to honor my obligations as soon as my financial situation improves. I am actively taking steps to enhance my income streams and carefully manage my expenses to ensure a timely and complete repayment. Furthermore, I completely understand that an extension places an extra burden on you as the lender, and I am more than willing to discuss any additional terms or conditions necessary to carry out the extension successfully. If there are any fees or charges associated with this extension, please notify me at your earliest convenience so that we may discuss and incorporate them into the revised agreement. To facilitate this request, I have attached the necessary financial documents to support my current circumstances, including bank statements, pay stubs, and any other relevant proof of income and expenses. I trust this additional information will aid in understanding my need for an extension. I highly value our previous working relationship, and I hope that you can grant this extension, considering my genuine commitment to fulfill the promissory note. Furthermore, I aim to maintain our positive relationship, and you're understanding and flexibility in this matter would be greatly appreciated. Please feel free to contact me at [Your Phone Number] or [Your Email Address] to discuss this matter further or provide any additional documentation you may require. I look forward to finding a suitable resolution that benefits both parties involved. Thank you for your time, consideration, and understanding. I am hopeful that you will grant this request and work with me during this challenging period. Sincerely, [Your Name] [Your Address] [City, State, Zip Code] [Your Phone Number] [Your Email Address]
Delaware Sample Letter for Request for Extension of Time on Promissory Note
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FAQ
A promissory note is a key piece of a home loan application and mortgage agreement, ensuring that a borrower agrees to be indebted to a lender for loan repayment.
(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).
Demand Promissory Note: A note that needs to be repaid immediately when the lender asks. There is no specific term or due date for the money under these notes. Due Date: The date on which a loan must be paid in full. This is sometimes called the maturity date.
A form of debt instrument, a promissory note represents a written promise on the part of the issuer to pay back another party. A promissory note will include the agreed-upon terms between the two parties, such as the maturity date, principal, interest, and issuer's signature.
How to write a leave extension letterCheck your company's leave extension rules.Include date, name and address.Add the name and address of the recipient.Add a subject line.Add a salutation.Refer to your original leave status.Explain the reason for the extension.Specify the duration of the extension.More items...?
I hereby write to inform you that I will not be able to pay the fees of (Semester/Year) due to (salary issues/some other emergency payments). I promise that I shall pay the fees by (Date and Month), and there will be no delay in the same.
A simple promissory note might be for a lump sum repayment on a certain date. For example, you lend your friend $1,000 and he agrees to repay you by December 1. The full amount is due on that date, and there is no payment schedule involved.
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.
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).
A promissory note is essentially a written promise to pay someone. This type of document is common in financial services and is something you've likely signed in the past if you've taken out any kind of loan. If you decide to lend money to someone, you may want to create a promissory note to formalize the loan.
