Request for Extension of Loan Repayment Time

I hope this message finds you well. I am writing to formally request an extension of the repayment period for my current loan with [Lender’s Institution Name]. I have been diligently meeting my payment obligations since the inception of the loan, but due to unforeseen circumstances, I am experiencing temporary financial difficulties.

Over the past few months, I have encountered significant challenges that have impacted my financial stability. These challenges include [briefly describe reasons, e.g., a medical emergency, job loss, or unexpected expenses]. Despite my efforts to manage my finances responsibly, these issues have made it difficult for me to adhere to the original repayment schedule.

In light of these circumstances, I am kindly requesting an extension of [specific period, e.g., six months] on my loan repayment schedule. This extension will provide me with the necessary time to stabilize my financial situation and ensure that I can resume regular payments without compromising my financial well-being.

To support my request, I have outlined a revised repayment plan below:

I believe that this extension will allow me to fulfill my obligations under the revised terms and avoid defaulting on my loan. I am committed to repaying the loan in full and on time, as soon as my financial situation improves.

I am more than willing to discuss this matter further and provide any additional documentation that may be required to support my request. Please let me know if there are any forms or additional information you need from me to process this request.

Thank you for your understanding and consideration. I look forward to your positive response and hope for a favorable resolution to my request.

Sincerely,

[Your Full Name]
[Your Contact Information]
[Your Loan Account Number]