Request of Extension of Time to Repay Debt

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Request of Extension of Time to Repay Debt

Request of Extension of Time to Repay Debt

Date:

{{date}}

Creditor Information:

{{creditor_name}}

{{creditor_address}}

Subject: Request for Extension of Time to Repay Debt - Account Number {{account_number}}

Dear {{creditor_contact_person}},

Background:

I am writing to formally request an extension of time to repay my outstanding debt of {{original_debt_amount}} under account number {{account_number}}. The original repayment due date was {{original_due_date}}.

Reason for Request:

Due to {{reason_for_extension}}, I am currently unable to meet the original repayment deadline. This situation is {{brief_explanation_of_situation}}.

I have been diligently managing my financial obligations and this unforeseen circumstance has made it challenging to adhere to the previously agreed-upon terms.

Proposed Repayment Plan:

I propose a revised repayment schedule as follows:

New Repayment Due Date: {{new_due_date}}

I am confident that I will be able to settle the full outstanding amount by the proposed new due date. I am also open to discussing alternative arrangements that may be suitable for both parties.

Commitment and Assurance:

I understand the importance of fulfilling my financial commitments and assure you of my continued dedication to repay this debt. I am committed to resolving this matter promptly and maintaining a positive financial relationship with {{creditor_name}}.

I kindly request your understanding and favourable consideration of this request. Please contact me at {{phone}} or {{email}} to discuss this further or if you require any additional information.

Sincerely,