Utah 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] [Address of Lender] [City, State, ZIP Code] Subject: Request for Extension of Time on Promissory Note Dear [Name of Lender], 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 of promissory note] with a principal amount of $[loan amount]. Due to unforeseen circumstances, I am unable to meet the original repayment deadline of [original repayment deadline]. I apologize for any inconvenience this request may cause and assure you that I am committed to fulfilling my repayment obligations. I am currently experiencing [briefly explain the unforeseen circumstances, such as job loss, medical emergency, or financial hardship]. These circumstances have severely impacted my financial situation, making it unfeasible for me to make the agreed-upon payment by the original due date. Considering my sincere commitment to repaying the loan, I kindly request an extension of [number of days/weeks/months] to allow me sufficient time to overcome these challenges and fulfill my financial obligations. I understand that this extension request is subject to your approval, and I am prepared to comply with any conditions you may deem necessary. In light of the extension, I would like to propose an amended repayment plan. I suggest the following alternative arrangement: Option 1: Interest-only payments Option 2: Reduced monthly payments Option 3: Lump-sum payment by [specified date] I am open to discussing any alternative payment arrangements that would be mutually beneficial. Please review these options and let me know your preferred choice, or suggest any modifications you deem suitable. In addition to my commitment to repay the loan, I am willing to provide any necessary documentation to support my current financial situation, such as recent pay stubs, bank statements, or medical reports. Please inform me of the specific documents you require, and I will promptly provide them. I understand that a failure to comply with the revised repayment terms would be a breach of the agreement, and I assure you that I will make every effort to avoid such a situation. I am fully aware of the potential consequences of defaulting on the promissory note and the negative impact it would have on my credit standing. Furthermore, I genuinely appreciate your understanding and your willingness to consider granting me an extension of time. Furthermore, I believe that with this extension, I will be able to honor my commitment to repay the loan in full. Furthermore, I value our previous relationship as lender and borrower and hope to maintain it for the long term. Please let me know your decision on my request as soon as possible. I await your response and look forward to resolving this matter in a mutually beneficial manner. You can reach me at [your contact details] if you require any further information or wish to discuss this matter in detail. Thank you for your attention and cooperation. Sincerely, [Your Name] Types of Utah Sample Letter for Request for Extension of Time on Promissory Note: 1. Utah Sample Letter for Request for Extension of Time on Promissory Note — Personal Loan: This type of letter is used when requesting an extension of time for repaying a personal loan. 2. Utah Sample Letter for Request for Extension of Time on Promissory Note — Business Loan: This letter is applicable when seeking an extension of time for repayment of a business loan. 3. Utah Sample Letter for Request for Extension of Time on Promissory Note — Mortgage Loan: This variant is used when requesting an extension of time for repaying a mortgage loan. 4. Utah Sample Letter for Request for Extension of Time on Promissory Note — Student Loan: This type of letter is relevant when requesting an extension of time for repaying a student loan. 5. Utah Sample Letter for Request for Extension of Time on Promissory Note — Emergency Loan: This letter is suitable for seeking an extension of time to repay an emergency loan obtained for critical situations. Note: The content provided above is a sample letter. It is recommended to consult with a legal professional or financial advisor before sending any formal communication to ensure compliance with applicable laws and regulations.
Utah Sample Letter for Request for Extension of Time on Promissory Note
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How to fill out Utah Sample Letter For Request For Extension Of Time On Promissory Note?
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FAQ
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.
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.
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 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).
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.
This is to express in writing my inability to pay on time the amount due for my tuition fees amounting to P. I promise to pay said amount on or before . Furthermore, I am fully aware that subsequent Promissory Notes shall not be accepted without settling my current due amount.
(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).
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).
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...?
