Subject: Request for Extension of Time on Promissory Note — [Your Name] Dear [Lender's Name], 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 was initially due on [Due Date]. Due to unforeseen circumstances, I am unable to meet the repayment deadline, and I kindly request your understanding and cooperation in granting me an extension. Iowa State law allows for borrowers to request an extension on their promissory notes for various valid reasons. In my case, I find myself facing unexpected financial setbacks that have temporarily affected my ability to repay the loan as scheduled. These challenges include [briefly explain the reasons here, such as unexpected medical expenses, loss of employment, or other valid explanations]. Upon careful evaluation of my current financial situation, I am confident that I will be able to fulfill my financial obligations by [Proposed Revised Due Date]. This extension period will give me the necessary time to overcome these challenges and ensure that I can repay my loan in full. I fully understand that an extension of time will incur additional interest and fees. I am willing to accept these consequences and undertake to pay the corresponding charges to the best of my ability. However, considering the circumstances, I kindly request that the interest amount and any associated penalties be waived or minimized to a reasonable extent. Please find attached supporting documents that provide further evidence of the circumstances I mentioned. These documents include [list the documents you are attaching, such as medical reports, termination letter, etc.]. I believe they will give you a comprehensive understanding of my situation and affirm the genuineness of my request. In no way do I intend to default on my obligations, nor do I wish to damage our previously amicable borrower-lender relationship. I have always been a responsible borrower, and this unfortunate situation is a result of temporary financial hardship. I am dedicated to resolving this matter swiftly and honorably. Furthermore, I kindly request you to review my request promptly and provide your decision in writing. If you require any additional information or if there are alternative options available to address this matter, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. I will be readily available to discuss this matter at your earliest convenience. Thank you very much for your understanding and consideration. Yours sincerely, [Your Name] [Your Contact Information]
Iowa Sample Letter for Request for Extension of Time on Promissory Note
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How to fill out Iowa Sample Letter For Request For Extension Of Time On Promissory Note?
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FAQ
(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).
Before you write a request letter, one should know to whom the letter is addressed....Here is the simple format of the request letter:Date.Recipient Name, designation and address.Subject.Salutation (Dear Sir/Mam, Mr./Mrs./Ms.)Body of the letter.Gratitude.Closing the letter (Your's Sincerely)Your Name and Signature.
Open with a professional greetingWriting a professional greeting, followed by a comma, is a friendly way to start your request letter. The word 'Dear', followed by your recipient's title and surname suits most letters of request. If your recipient is someone you know well, you may address them by their first name.
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.
I am writing this letter to request you to extend the submission period of fee payment by a (week/month/quarter), which is from // (Date) to // (Date). The reason behind the extension of my fee payment is (reason for requesting extension).
To write a letter of request, start by greeting the recipient with Dear, followed by the person's last name and title, or To Whom It May Concern. Then, briefly explain who you are and why you're writing in the 1st paragraph. Next, provide additional context and details about your request in the 2nd paragraph.
How to write a letter of intent for businessWrite the introduction.Describe the transaction and timeframes.List contingencies.Go through due diligence.Include covenants and other binding agreements.State that the agreement is nonbinding.Include a closing 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...?
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.
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.
