Subject: Request for Extension of Time on Promissory Note — Urgent Assistance Required Dear [Creditor'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, which I currently hold with your esteemed institution. Due to unforeseen circumstances, I have encountered difficulties in meeting the original repayment deadline of [mention original due date]. Let me provide some context for my situation. I am a resident of the state of Illinois, and as you may be aware, unexpected financial burdens can arise quite unexpectedly in this bustling state. [Insert personal experiences, hardships, or any particular reasons that led to your current financial strain and difficulty in repayment]. I truly believe that with your understanding and empathy, we can resolve this situation in a mutually satisfactory manner. Given the circumstances, I kindly request an extension of [mention desired extension period] to fulfill my financial obligations. I am firmly committed to repaying the entire outstanding balance, and the extension will provide me with a reasonable timeframe to arrange the necessary funds and fulfill my obligations as agreed. I assure you that this extension will not only benefit me but also ensure that your institution ultimately receives the full repayment as per the original terms of our agreement. Furthermore, I sincerely value the relationship I have with your esteemed institution, and I remain fully determined to honor my obligations. In recognition of the seriousness of this matter, I have already taken proactive measures to improve my financial situation. [Mention any steps taken, such as seeking additional income sources, cutting down expenses, or exploring alternative solutions]. I kindly request you to review my case sympathetically and grant me the requested extension. I would be more than willing to provide any additional information or documentation that you may require to facilitate a positive resolution to this matter. Please find enclosed relevant supporting documents [if applicable], such as financial statements, proof of income, or any other documentation that may assist in your evaluation. I have also included a self-addressed envelope for your convenience, in case you require any further documentation or information from me. I would greatly appreciate your prompt attention to this matter, as it weighs heavily on my mind. Furthermore, I kindly request you to respond to this letter within [mention a reasonable timeframe] to provide me with the necessary details concerning the approval of my request. Thank you for your understanding, flexibility, and consideration. Your support during this challenging period would greatly relieve my financial stress and enable me to fulfill my obligations faithfully. I am confident that, with your assistance and cooperation, we can find a favorable resolution that ensures our continued positive financial partnership. I await your positive response, and sincerely thank you for your time and attention to this matter. Yours sincerely, [Your Name] [Your Contact Information]
Illinois Sample Letter for Request for Extension of Time on Promissory Note
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How to fill out Illinois Sample Letter For Request For Extension Of Time On Promissory Note?
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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.
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.
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.
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.
(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).
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.
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.
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.
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.
