Ohio Sample Letter for Request for Extension of Time on Promissory Note [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Name of Lender] [Title] [Company Name] [Address] [City, State, ZIP Code] Subject: Request for Extension of Time on Promissory Note 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 [Note Number] dated [Date of Note]. Due to unforeseen circumstances, I am unable to make the scheduled payment on [Date of Payment], and I am kindly seeking your understanding and support in granting me an extension. I would like to express my commitment to fulfilling all my financial obligations and to maintain a strong credit history. Unfortunately, [provide a brief but honest explanation of the specific circumstances that have led to the temporary financial setback, such as sudden loss of employment, medical emergencies, or unexpected expenses]. These circumstances have impacted my ability to meet the payment deadline as originally agreed. I would like to propose an extension of [state the desired period of the extension, e.g., 30 days] in order to arrange the necessary funds and fulfill my obligations promptly. I assure you that I will make every effort to meet the revised payment deadline [new proposed payment date]. It is important for me to resolve this matter as soon as possible to ensure the integrity of our borrower-lender relationship. Enclosed with this letter, please find supporting documents detailing the circumstances that have caused temporary financial hardship. This includes [list supporting documents, such as medical bills, termination letter, pay stubs, or bank statements]. These documents will provide a comprehensive overview of the situation and further reinforce the validity of my request. I understand that this extension is purely at your discretion. I appreciate your consideration and understanding of my current situation and hope you will grant my request for the extension. Furthermore, I remain committed to maintaining open communication and promptly updating you on any developments regarding the extension request. Please feel free to contact me at [Your Phone Number] or [Your Email Address] to discuss this matter further or if you require any additional information. Your personal attention to this matter is greatly appreciated. Thank you for your time and understanding. I look forward to your positive response. Sincerely, [Your Name]
Ohio 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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How to Modify a Promissory NoteIdentify the terms of the note that are creating difficulty in repayment.Communicate your need to modify the terms of the note to the note holder.Have the holder of the note draft modifications to the original note.Sign and notarize the modified promissory note.
The Borrower, Lender, and Holder (if any) may collectively initiate a permanent or temporary reduction in the Interest rate of the guaranteed loan at any time during the life of the loan upon written agreement among these parties.
Use these steps to help you make an effective deadline extension request:Determine deadline importance.Decide how to ask.Provide a specific reason.Show your dedication.Offer to share your progress.Set a reasonable new deadline.Show gratitude.Example conversational request.More items...?
The reason behind the extension of my fee payment is (reason for requesting extension). I am hoping that you would consider my situation and grant me the extension. I shall be obliged for your kind support. Thanking you in advance.
Note Modification means the Note Modification Agreement and Allonge (Promissory Note Revolving Line of Credit) dated August 3, 2010, by and between Borrower and Lender, executed pursuant to this Amendment any and all modifications and replacements thereof.
An amended and restated promissory note is a legally binding addition to a promissory note that notes any significant changes and replaces the original agreement. Amended and restated promissory notes are seen as the most recent and up-to-date versions of the promise to pay between a borrower and a lender.
Letter of Request for Extension of Payment DueLetter of Request for Extension of Payment Due : This Letter should be written in The Letter-Pad of the Company.From : The Sender's Name, Door Number and Street's Name,TO : Addressee's Name, Designation,NOTE : This is a typical letter.Related Links :
I have to pay a total amount of (amount) and which is getting difficult for my parents. As per (mention reason) I request you to kindly allow me to pay the fees in installments. I look forward to your kind support. I shall be highly obliged.
Modification Agreement means the written order to the Contractor signed by the County authorizing an addition, deletion, or revision in the goods, Services and/or Work to be provided under the Contract Documents or an adjustment in the Contract Price issued after execution of the Agreement.
An amended and restated promissory note is a legally binding addition to a promissory note that notes any significant changes and replaces the original agreement. Amended and restated promissory notes are seen as the most recent and up-to-date versions of the promise to pay between a borrower and a lender.
