Request for Loan Extension

I hope this message finds you well. I am writing to formally request an extension of my existing loan with your institution. Below are the details related to my current loan and the reasons for requesting this extension.

Loan Details:

• Loan Account Number: [Your Loan Account Number]
• Original Loan Amount: [Original Amount]
• Current Balance: [Current Balance]
• Original Loan Term: [Original Term]
• Current Repayment Term: [Current Term]

Reason for Extension Request:
Due to unforeseen circumstances, I have encountered financial difficulties that have affected my ability to meet the current repayment schedule. Specifically, [describe your situation briefly, such as a recent job loss, medical expenses, or any other relevant reason]. These circumstances have made it challenging to manage my finances as planned.

Proposed New Terms:
I am requesting an extension of the loan term by [number of months/years]. This adjustment would enable me to maintain my monthly payments at a manageable level, ensuring that I can continue to fulfill my financial obligations without undue hardship.

To facilitate this process, I am prepared to provide any necessary documentation that supports my request. This includes [list any documents you can provide, such as proof of income, medical bills, or other relevant paperwork].

I appreciate your consideration of this request and am hopeful for a positive response. Please let me know if there are any additional forms or procedures required to process this extension. I am available at your convenience to discuss this matter further.

Thank you for your understanding and assistance.

Sincerely,
[Your Full Name]
[Your Contact Information]