Dear [Lender's Name], I hope this letter finds you in good health and high spirits. I am writing to request an extension of time on the promissory note, dated [date], pertaining to the loan agreement between us. First and foremost, I would like to express my sincere gratitude for your assistance and support thus far in meeting my financial obligations. However, due to unforeseen circumstances, I am currently facing difficulties in meeting the set repayment schedule. Living in the beautiful state of Hawaii, we are unfortunately prone to natural disasters and in this case, my family and I have encountered an unexpected and devastating event. [Describe the specific event that has caused financial hardship, such as a hurricane, earthquake, or volcanic eruption]. This incident has resulted in significant property damages and unexpected expenses that have strained my financial resources. Understanding the importance of honoring my financial commitments, I am diligently working towards finding alternate sources of income and exploring feasible options to get back on track with the repayment schedule. Considering the circumstances, however, I kindly request your support in extending the due date for the payment on the promissory note for a period of [state desired extension period], until I am able to stabilize my financial situation. During this extension period, I assure you that I will remain committed to meeting my obligations and will make every effort to repay the loan in a timely manner. I understand that any extension granted will be subject to the terms and conditions mutually agreed upon by both parties. To provide further assurance, I am prepared to offer any necessary documentation, such as proof of the incurred damages, photographs, or receipts to support my request. Additionally, I am more than willing to discuss my situation further and explore any potential alternatives that may be available. You're understanding and support in this matter would be of immense help to me and my family during this challenging time. I value the relationship we have built and hope that we can work together to find a mutually beneficial solution. Thank you for your attention and consideration. I anxiously await your response to this earnest request for an extension of time on the promissory note. Please feel free to contact me at [your contact information] to discuss this matter further. I remain hopeful for a positive resolution. Yours sincerely, [Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number]
Hawaii Sample Letter for Request for Extension of Time on Promissory Note
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How to fill out Sample Letter For Request For Extension Of Time On Promissory Note?
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FAQ
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.
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.
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.
If you're signing a promissory note, make sure it includes these details:Date. The promissory note should include the date it was created at the top of the page.Amount.Loan terms.Interest rate.Collateral.Lender and borrower information.Signatures.
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.
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.
(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).
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.
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...?
