Subject: Request for Extension of Time on Promissory Note — Massachusetts Sample Letter 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 the promissory note dated [date of the note], involving the loan agreement between you and me. After careful consideration of my financial situation, I regret to inform you that I am currently unable to fulfill the original repayment terms under the agreed-upon schedule. [Insert a brief explanation of the circumstances leading to the need for an extension, e.g., unexpected medical expenses, job loss, or other financial setbacks.] I genuinely value our business relationship and want to assure you that I am determined to fulfill my obligations. However, the current financial difficulties I am facing are beyond my immediate control. Therefore, I kindly request your understanding and consideration in granting me an extension of [specify the duration you are seeking] to repay the loan. My intention remains to meet my commitment fully, along with the accrued interest on the loan. The extension would provide me with sufficient time to stabilize my financial situation by creating a feasible repayment plan that fits my current circumstances. To demonstrate my commitment and sincerity, I would like to propose the following terms: 1. Extension Duration: I kindly request an extension for a period of [duration]. This additional time would allow me to regain financial stability, ensuring timely repayment without compromising my existing responsibilities. 2. Revised Payment Plan: I am willing to reassess the repayment structure to accommodate the extended period. This modified plan could include smaller monthly installments, reduced interest rates, or any other mutually agreed-upon terms that would facilitate my ability to fulfill the loan obligation. Please note that I aspire to maintain open communication with you throughout this process. If approved, I assure you that I will provide prompt updates on my progress towards repaying the outstanding balance. I understand the importance of regular communication to build trust and establish a stronger financial rapport. I kindly request that you review my proposal with utmost consideration. If you require any additional documentation or information to assess my request, please let me know as soon as possible. Additionally, if it is more convenient, I am available for a personal meeting or phone call to discuss this matter in detail. Thank you very much for your understanding and patience regarding my current circumstances. I am committed to resolving this matter in an amicable and timely fashion. Your cooperation and flexibility would be greatly appreciated and will assist me in overcoming this temporary financial setback. Please find attached any supporting documents that may aid you in assessing my current situation. I eagerly await your response, and I genuinely hope that we can reach a mutually beneficial agreement. Thank you again for your time and attention. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] ------------------------------------------------------------------ Different types of Massachusetts Sample Letter for Request for Extension of Time on Promissory Note could include: 1. Business Loan Extension Request: This type of letter is used by entrepreneurs or business owners who require additional time to repay a business loan, seeking an extension to meet their financial obligations. 2. Student Loan Extension Request: Students burdened by educational debts may utilize this letter to request an extension on their student loans, citing financial difficulties such as unemployment or unforeseen expenses. 3. Mortgage Loan Extension Request: Homeowners facing temporary financial hardship may write this letter to mortgage lenders, appealing for an extension to fulfill their mortgage loan obligations, thereby avoiding the risk of foreclosure. 4. Personal Loan Extension Request: Individuals planning to extend the repayment period on their personal loans can utilize this letter template to communicate their request to the lender, explaining their reasons for seeking an extension while discussing revised payment terms. Note: The aforementioned examples are generic types, and specific circumstances may require modifications to the template as per the individual's unique situation.
Massachusetts 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
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).
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.
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.
I respectfully ask for permission to pay my fees a week or two after the due date. My father had passed away many years ago and my mother is unable to work full time, so my siblings and I are the earners of the house and we each have part-time jobs. (Explain the actual problem and situation).
(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).
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.
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).
