Dear [Lender's Name], I hope this letter finds you well. I am writing to request an extension of time on the promissory note that I have with [Lender's Name] for [loan amount]. Due to unforeseen circumstances, I am unable to honor the payment deadline specified in the note, and I kindly ask for your understanding and flexibility in granting me additional time to fulfill my financial obligation. First and foremost, I want to express my gratitude for the opportunity you have provided me by financing my loan. I am aware of the importance of meeting the agreed-upon payment terms and assure you that I am committed to fulfilling my responsibilities. Unfortunately, circumstances beyond my control have arisen, affecting my ability to make timely repayment. [Provide specific details regarding the reasons for requesting the extension. For instance, it may be due to loss of employment, unexpected medical expenses, or any other valid grounds. This section should be personalized to reflect the specific situation.] I understand that this extension will not absolve me from my debt and that any remaining balance will continue to accrue interest during the extended period. To demonstrate my commitment to honoring this loan, I am willing to provide additional collateral or any documentation necessary to assure you of my intent to settle the debt. I greatly appreciate your consideration of my request and hope that you can grant an extension of [number of days/weeks/months]. This additional time will provide me with the necessary breathing space to overcome the challenges I currently face, without jeopardizing my relationship with you as my lender. If approved, I assure you that I will diligently adhere to the revised payment schedule and promptly communicate any further changes in circumstances. Furthermore, please be assured that I am actively seeking alternate sources of funds to fulfill my financial obligations as soon as possible. I request that you kindly inform me of your decision at your earliest convenience. I look forward to your understanding and cooperation in resolving this matter amicably. Should you require any additional information or documentation, please do not hesitate to contact me at [your contact information]. Thank you for your attention to this matter, and I sincerely hope for your favorable response. Yours sincerely, [Your Name] [Your Address] [City, State, ZIP] [Your Email Address] [Your Phone Number] Keywords: Georgia, letter, request for extension of time, promissory note, loan, payment, deadline, circumstances, financial obligation, unforeseen, repayment, collateral.
Georgia Sample Letter for Request for Extension of Time on Promissory Note
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How to fill out Georgia Sample Letter For Request For Extension Of Time On Promissory Note?
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FAQ
This is to express in writing my inability to pay on time the amount due for my tuition fees amounting to P. I promise to pay said amount on or before . Furthermore, I am fully aware that subsequent Promissory Notes shall not be accepted without settling my current due amount.
The financial condition of my family has become quite uncertain and unstable. As a result of this, I have not been able to pay my school fee for the month of May and June, 2019. Kindly give my family a time period of two weeks. I shall be able to pay the fee by July 2, 2019.
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.
Dear Sir. RE: Request for extension time in paying fee. I am Santos, a student of Avenue Park School and I am writing to request for an extension of time in paying up the school dues that I have not been able to clear due to unavoidable circumstances back at home.
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.
Whether a promissory note is hand written or typed and signed, it is a legally, binding contract. LendingTree quoted Vincent Averaimo for saying, However, it would be foolish to sign a handwritten promissory note as it is easier to add language to a handwritten note after the fact as opposed to a typewritten one.
At its most basic, a promissory note should include the following things:Date.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.
(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).
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...?
This is to express in writing my inability to pay on time the amount due for my tuition fees amounting to P. I promise to pay said amount on or before . Furthermore, I am fully aware that subsequent Promissory Notes shall not be accepted without settling my current due amount.
