letter to request extension of payment

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How to Write a Request for Extension of Time to Make Payment Letter (with Sample) ​ Use this sample loan extension request letter as a template for your formal request letter. Last updated on February 20th, 2019

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How to Write a Letter Asking for an Extension

Last Updated: May 21, 2022 References

This article was co-authored by Alexander Ruiz, M.Ed. . Alexander Ruiz is an Educational Consultant and the Educational Director of Link Educational Institute, a tutoring business based in Claremont, California that provides customizable educational plans, subject and test prep tutoring, and college application consulting. With over a decade and a half of experience in the education industry, Alexander coaches students to increase their self-awareness and emotional intelligence while achieving skills and the goal of achieving skills and higher education. He holds a BA in Psychology from Florida International University and an MA in Education from Georgia Southern University. There are 7 references cited in this article, which can be found at the bottom of the page. This article has been viewed 3,030,105 times.

Sample Letters

Sample Emails

Following Formal Letter Writing Conventions

• If you are sending your request via email, you can omit the date and address portions and start with your salutation. However, make sure to use an effective and clear subject line. For example, if you are emailing a professor, your subject line might read, "Mike Smith HIST 359 Paper Extension Request."

• Even if you know them informally, this is an official request so keep the tone and content formal. Do not write “Hi, Jim,” for example.
• Try to find some specific person that you can address your letter to. Otherwise, it can appear like a form letter. For example, “Dear Senator Smith,” is preferable to, “To Whom It May Concern.” [2] X Research source

• To open your letter you might state, “I am John Smith a student in your HIST 456 MWF morning class.” This will jog your professor’s memory and save them time looking you up.

• It is best to close with an official “sign off” before your name. Some of the better options are: “Sincerely” “Best” “All the Best” “Best Regards.” [3] X Research source
• If you need a reply by a certain time, you should include that information at this point as well. You can always pair it with your thanks. For example, “Thank you for your consideration and I look forward to hearing from you next week.” Just be careful not to appear overly pushy. [4] X Research source

Crafting the Content of the Letter

• Depending on the situation, you might need to consider your letter as part of an ongoing negotiation. In that sense, it is better to ask for a longer amount of time so that you can compromise and meet in the middle. [7] X Research source
• Gauge your pace based upon your current progress and what parts of the project have yet to be completed. For example, if you have worked on a consulting project for three months you should have a pretty good sense of how much is left to do.
• Be aware of the time constraints facing the recipient as well. They may be under their own deadlines that will now need to be pushed back. For example, college professors are often required to submit midterm grades and schedule their paper deadlines accordingly.

• A good reason might be the desire to be thorough or cautious in your work. For instance, if you are completing a project that could potentially impact the safety of others, pointing this fact out when asking for extra time could work in your favor.
• If you have multiple reasons for your request, choose the best one and focus on it. For example, if you are delaying a job offer you might want to tell them that you would like to conduct additional research into the transfer costs (if this is indeed true) instead of letting them know that you are also waiting on another offer. [9] X Research source

• For example, if your grandfather dies two days before your college essay is due, it is best to describe the incident as a “family emergency” as opposed to a general “emergency.” You may also want to mention his passing and some information about your travel arrangements. [11] X Research source
• Have your paperwork in order before submitting any request. You may need to lay out a timeline of prior actions and applications, especially if dealing with the government or another official entity. Showing that you have followed all steps of the process up until this point can only work in your favor. [12] X Research source

Sending the Letter to the Recipient

• If you are going to mail off a hard copy of your letter, make sure to print it out using a high quality printer with a good ink cartridge. A handwritten extension request is generally not acceptable. [14] X Research source

• Your recipient may be able to see the exact time that you sent the email. Be aware of this if you like to send off emails very late at night.
• Keep your email formal and that includes the address that you use as well. Send this email from a professional-sounding account. For example, sending a work email from “[email protected]” is appropriate.
• If you send your letter via fax, make sure to hold on to the confirmation page showing that your transmission was successfully sent and received.

Expert Q&A

• Try to keep your letter at one page of length or less. This makes it appear complete, yet easy to skim through. [15] X Research source Thanks Helpful 0 Not Helpful 0
• Be aware if your recipient will send you something in return, such as a confirmation letter. Thanks Helpful 0 Not Helpful 0

• Be realistic in the promises that you make. You do not want to get an extension only to spend the extra time completing additional work. Thanks Helpful 2 Not Helpful 0
• Check to make sure that you’ve included all necessary forms with your request. And, some groups will require that you use their form letter as a template. Thanks Helpful 0 Not Helpful 1
• Make this one-time extension request count. You do not want to try for another one. Thanks Helpful 0 Not Helpful 0

You Might Also Like

• ↑ Alexander Ruiz, M.Ed.. Educational Consultant. Expert Interview. 18 June 2020.
• ↑ http://www.uwgb.edu/UWGBCMS/media/career-services/files/pdf/Professional-Letters-Guide.pdf
• ↑ https://en.oxforddictionaries.com/writing-help/how-to-write-a-business-letter
• ↑ https://www.themuse.com/advice/how-to-ask-for-a-deadline-extension-without-losing-your-street-cred
• ↑ http://www.monster.ca/career-advice/article/delaying-a-job-offer-ca
• ↑ http://www.complex.com/pop-culture/2013/09/how-to-get-an-extenstion-on-a-paper/be-specific
• ↑ http://www.cbsa-asfc.gc.ca/recourse-recours/extensionoftime-prorogationdedelai-eng.html

About This Article

To write a letter asking for an extension, start with a formal salutation, like "Dear Professor Montgomery." Then, in the body of your letter, state that you'd like an extension and explain why you need one. You should also include a new, realistic deadline that you think you can meet. Remember to keep the tone of your letter positive so it doesn't seem like you're whining or complaining. Also, try to limit your letter to 1-3 paragraphs so that it's short and straightforward. To learn how to end your letter, scroll down! Did this summary help you? Yes No

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Request Extension on Payment Letter

• by  emily
• April 21, 2012

Request Extension on Payment –

[Name, Company Name & Address here]

Dear [name],

First of all, I would like to thank you for your services to our company. We are really satisfied with your services and appreciate the professionalism in your staff

We worked with many agencies, but never received such kind of results. Your agency does everything in a satisfactory manner.

Further, I would like to inform you that we received your invoice no. [no. here] for the amount of $[amount], for the month of [month name]. Please note that this time I am unable to make full payment to you. I am enclosing a check in the amount of [amount] as a partial payment for the last bill. I am not making the full payment as – [State here the reason for not making full payment].

You will receive remaining payment by [date].

I apologize for the delay in payment, and I will make sure it does not happen in the future.

I thank you for your co-operation.Wish you the best for your business.

[Your name & Designation]

[Company name]

  Download Request Extension on Payment Letter In Word Format

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Application for Loan Extension or Renewal to Bank

Sample application letter to request the bank for extension and renewal of loan payment dates due to financial problems/loss, etc. Format of request letter to send to the bank for loan extension when you cannot meet the deadline.

Request Lette for Loan Installament Extension

Respected Manager,

I took a loan of $10,000 from your bank, of which I have paid back $4500 so far. My monthly installment is $1350. But my financial situation is quite bad, due to which I am facing difficulty in paying installments.

I request you to kindly stop my installation for four months. And after that, I will start paying again. Because by then I will get the money. I will be grateful for your cooperation.

Sincerely Yours,

Your Name, ID

Application Letter for Loan Date Extension

Mr. Jackson Smith

Branch Manager

Sir, I am a current user of your bank and am running four different accounts with good flow. With the account details attached to this letter, it can be proved that I am a non-liable applicant for a loan extension. As per the loan plan that I was provided with, there was a calamity because of which I would be unable to pay back the due amount in time. Therefore, grant me a two-month extension, so I can pay back the principal amount and interest for these two months. I would like to hear from you soon. Thank you for your consideration.

Yours sincerely,

George Summer

Application for Loan Extension

11 months back, I took an interest-free loan from Habib Bank Limited of 1 million. The time period to return the amount was one year. I have paid 80% of the amount back to the bank, and the rest 20% of the amount is due on (Date).

You can see in my payment history that I will have paid all the installments on time and did not miss the deadline even once. However, this time due to some financial drawbacks, unfortunately, I will not be able to meet the deadline with the bank. I request you, please extend the loan deadline and give me a month more so I can arrange the remaining amount.

I am really hoping for a positive response. You can contact me for further details of the loan. I would be very grateful if you could help me through this difficult time.

Best Regards,

Contact ______

Sample Letter Requesting Installment Payments

I took a loan from the company last month due to some financial crisis which I was facing. The amount of the loan was PKR 100 000, and the deadline to pay the amount back is on 1 st January (Date). However, I thought that it would be difficult for me to collect the amount, and it would be more convenient if the money would be deducted directly from my salary every month. This way, I will also not have to worry about saving up the amount.

Kindly consider my request, and you may contact me for any further queries. I would be very grateful to you. Thank you.

 Letter to Bank for Loan Date Extension

To the bank of Punjab,

Dear Manager,

I am sending this letter to request for loan repayment extension. I took a loan of PKR 500 000 from the bank six months ago, and the due date to pay the amount back is 1st January (Date). Now I have paid back 80% of the amount of the loan; however, I am going through some financial drawbacks and will not be able to arrange the rest 20% by the deadline. Therefore, I request you to please extend my deadline to the next month so that I can easily arrange the money.

I have attached the official documents, which contacts the term of the loan, and proof of the paid amount. You may contact me in case of any queries or clarification. Thank you.

Best Regards, Your Name

Contact ________

With all due respect, I am writing this application to request a loan extension. I know I have to pay the loan off in six months, but my business has not been doing very well, and my financial instability has hit its peak. I cannot afford the amount at the moment and need more time to collect the money.  I request you to please provide me an extension and let me pay the loan off in a year rather than six months since it will be easier for me.

I hope you will acknowledge my situation and provide me with an extension.

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Key Takeaways:

• Objective: Learn how to write a letter requesting an extension of time effectively.
• Elements: Essential components to include in your letter.
• Tone and Language: Utilize a respectful and professional tone.
• Template: A customizable template to help craft your letter.
• Tips and Best Practices: Practical advice for writing a persuasive request.
• Real-life Examples: Illustrative examples to guide your writing process.

Writing a letter requesting an extension of time is a crucial skill in both the professional and academic realms. Such letters are essential when unforeseen circumstances arise, requiring additional time to complete tasks or projects. 

This article provides a systematic approach to composing a convincing letter, complete with practical tips, examples, and a customizable template.

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1. objectives of your letter.

Define the purpose of your letter clearly. Whether it’s for project completion, assignment submission, or another task, ensure the recipient understands why you need the extension.

• Due to unexpected technical difficulties, we require an extra two weeks to ensure the project’s successful completion.

2. Start with a Professional Greeting

Address the recipient formally, respecting titles and positions. This sets a professional tone from the onset.

• Dear Mr. Smith,
• Hello Dr. Johnson,

3. Clearly State Your Request

Express your request concisely. Make it easy for the recipient to understand your need for an extension quickly.

• I am writing to request an extension on the XYZ project due to unforeseen circumstances.

Table 1: Components of the Request

4. provide a justification.

Explain why you need the extension. Be honest and provide enough details to make your case compelling.

• Due to a sudden illness, I have been unable to complete the necessary research for the assignment.

5. Express Gratitude

Show appreciation for the recipient’s time and consideration of your request.

• I appreciate your understanding and consideration of this matter.

Table 2: Expressing Gratitude

6. close the letter professionally.

End your letter with a formal closing, followed by your name and designation.

• Sincerely, [Your Name]
• Best regards, [Your Name]

7. Use a Template

Utilize the template below to craft your letter. Feel free to customize it according to your needs.

Template: Letter Requesting Extension Of Time

[Your Name] [Your Position/Title] [Date]

[Recipient’s Name] [Recipient’s Position/Title] [Company/Organization Name] [Address]

Subject: Request for Extension on [Project/Assignment Name]

Dear [Recipient’s Name],

I hope this message finds you well. I am writing to formally request an extension of time for [specific task/project/assignment]. Due to [reason], it has become challenging to complete the work by the originally agreed deadline of [original deadline].

In light of these challenges, I kindly request an extension until [new deadline]. This additional time will enable me to [explain briefly what you will accomplish during the extension period].

Table: Adjusted Timeline | Milestone                       | Revised Date          | |———————————|—————————| | [Milestone 1]                  | [New Date 1]           | | [Milestone 2]                  | [New Date 2]           |

I appreciate your understanding and patience in this matter. Thank you for considering my request, and I am available for any further discussion or clarification.

[Your Name] [Your Contact Information]

Writing a letter requesting an extension of time involves clear communication, a valid justification, and a demonstration of professionalism. Use the guide and template provided to effectively convey your request, enhancing your chances of receiving a favorable response. Remember to be respectful, concise, and appreciative in your approach

You may also like:

• Payment Extension Request Letter: How To Draft It Right!
• Get More Time: Proven Strategies For Assignment Extensions!
• What Should I Do If My Extension Request Is Denied?

Frequently Asked Questions (FAQs)

1. how do i format an extension request letter.

Answer: The letter should include a clear and concise subject line, your contact information, the date, the recipient’s contact information, a polite introduction, the reason for the request, a proposed solution or plan of action, and a professional closing.

2. What should I include in the body of the letter?

Answer:   In the body of the letter, you should explain the reason for the request, provide any relevant information or details, and propose a plan of action or solution. 

Be specific about the time frame you are requesting, and provide a specific date by which you expect to complete the task or project.

3. How do I ask for an extension in a polite and professional manner?

Answer:   Use a polite and professional tone throughout the letter , apologize for any inconvenience the delay may cause, and express your willingness to work with the recipient to find a solution. Thank the recipient in advance for considering your request.

4. How long should the extension request letter be?

Answer:   The letter should be brief and to the point, ideally one page or less.

5. What should I do if my extension request is denied?

Answer:   If your extension request is denied , it’s important to stay professional and respectful. Thank the recipient for considering your request and ask if there’s anything you can do to help move forward. 

If your request is denied, it’s important to make sure you complete the task or project within the original deadline.

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submit your comments here

Wow. Well written. I did some edits to the letter format and wrote to my bank. Thank you.

The format works perfect for me. Thanks for making it available to us. Great job.

I referred this format a couple of weeks back and wrote the letter to bank. I wasn't really expecting that they would approve it. Today, I received the letter that they've extended the time. Thanks anyway!

Using this format to night for my Loan extension as a result of Covid-19 Pandemic. Will post the result from the bank. However, i am confident of the positive response after submission.

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Requesting Extended Payment Terms

It is possible that you may need to free up funds in order to launch a new product. Changing your payment terms may be necessary if you wish to expand your company’s operations. For the duration of COVID-19, it is possible that you may experience financial challenges . It is beneficial for a small business to negotiate better payment terms with its vendors and business partners for a number of different reasons. Vendors may agree to extend your payment terms if your concerns are addressed satisfactorily.

Sample Emails Requesting Extended Payment Terms

Dear partner, Concerning the current unpleasant situation with Covid-19, I would like to ask you if you could extend the payment terms for our company from 30 days to 90 days. We are also dependent on external 3rd parties and therefore extended payment terms from your side will help our business. We hope you will give this proposal your kind consideration and look forward to your reply. Best wishes, Kim

Hi Steven, As your partner for a long time, we would like to ask you to extend the payment terms for our company from 30 to 60 days. In recent weeks we have been experiencing difficulties collecting the payments from our customers due to the current external circumstances and would like you to extend our payment period. Thank you in advance for considering my request. Yours sincerely, Peter

Dear valued partner, Our usual terms of payment are 30 days net. Could you please allow us 2 months’ credit? Concerning our long-term successful partnership, we hope you will consider our request as soon as possible. Yours faithfully, Sarah

Dear partner, I refer to you regarding our conditions of payment. Our terms are 60 days net, but would you allow us 3 months’ credit for subsequent orders? Our request arose concerning the current circumstances with Covid-19. As before, we want to pay our invoices on time and wouldn’t like to be late, so an extension of the payment terms will ensure a smooth payment process. Yours truly, John

Short Sample Emails

We would be grateful if you could allow us 2 months’ credit.

Would it be possible for you to extend the payment terms from 30 days to 90 days?

We would highly appreciate it if you extend our payment terms to 60 days net?

Make a list of all of your questions before contacting suppliers. According to Stephanie Sims of Finance-Ability, entrepreneurs should start with a simple cash flow assessment to establish the best payment arrangements.

Before approaching a seller to enquire for longer payment terms, make a plan of action. Understanding your present budget is crucial. This method will help you start discussions. Examine the rights in your contract as well. Payment penalties should be considered for late cancellations and missed deadlines. Getting legal advice before working with your vendor is a good idea.

Small and medium-sized enterprises account for more than 95% of all businesses in the United Kingdom (SMEs).

It’s hardly unexpected that when the economy improves, many firms look for ways to prolong their payment terms.

Negotiating payment terms with suppliers may be advantageous when it comes to managing short-term cash flow.

This is how and when you pay businesses that supply you with services, as well as how much time you have to pay for their services.

When you make an order, you are usually signaling the start of the procedure.

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With the exception of the smallest transactions, all purchases are made in advance. In other cases, a payment may be expected in a matter of days, weeks, or even months.

If you want anything produced just for you, you will almost probably have to pay in installments. A down payment might be the first stage, followed by additional payments and, eventually, delivery.

Customers seldom bargain over the most fundamental terms and conditions. As a consequence, it is advantageous to study them during these tough times.

By analyzing your options, consider how you might be able to negotiate a better deal with a longer payment time.

Consider the manner of payment before just accepting the terms of a new provider.

They are more prepared to accept lengthier payment terms because of their size as well as the frequent 90- or 120-day payment intervals.

Inform the other person about your financial situation and clarify that you are merely looking for a monetary boost.

Assist them in forming new ties with customers and business partners.

A longer payment term might be exchanged for a particular number of purchases or a certain amount spent with them.

In business, effective communication is critical. Identifying the relevant person at a supplier, speaking their language, and grasping their challenges is a vital component of the process.

Assure them that they are not being singled out in this assessment of their capacity to make timely payments.

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Letter to Bank on Suspension / Extension of Deadline on Loan Repayment

Coronavirus / covid-19.

Letter to the Bank requesting for loan relief and to suspend loan repayment or pay only interests or extend payment deadline during the period of the coronavirus (COVID-19) crisis.

How to Tailor the Document for Your Need?

Create document.

Click "Create Document" button and the document will be prepared with your account details automatically filled in.

Fill Information

Please fill in any additional information by following the step-by-step guide on the left hand side of the preview document and click the "Next" button.

Get Document

When you are done, click the "Get Document" button and you can download the document in Word or PDF format.

Review Document

Please review the document carefully and make any final modifications to ensure that the details are correct before sending to the addressee.

Document Preview

Document description.

To use this document effectively, follow these steps:

1. Provide your information: Fill in the sender's information, including your account first name, account last name, account address, account phone number, and account email. If you are representing a company, include the account job and account job address.

2. Address the letter to the bank: Write the bank's address as the recipient of the letter. Include the current date.

3. Begin with a salutation: Start the letter with a salutation, addressing the recipient as 'dear sir/madam.'

4. Explain the purpose of the letter: Clearly state the reason for the letter, whether it is a request for interests only payment, a moratorium on payment, or a postponement of the payment deadline. Be concise and specific.

5. Make specific requests: If you are requesting interests only payment, specify that you want to pay interests only on the loan period and request the waiver of any penalties during the suspension of payment. If you are requesting a moratorium on payment, state this and request a moratorium on the loan repayment period, as well as the waiver of any interest or penalties during the suspension of payment. If you are requesting a postponement of the payment deadline, state this and request a postponement of the payment deadline period, along with the waiver of any interest or penalties during the suspension of payment.

6. Address credit rating and creditworthiness: Request that your credit rating, score, and creditworthiness not be affected by the suspension or extension of the loan repayment deadline.

7. Express gratitude and provide contact information: Thank the recipient for considering your request and express your hope to continue being a long-term customer. Provide your contact information, including your account phone number and account email, for further communication.

By following these steps, you can effectively use this document to request the suspension or extension of the loan repayment deadline from your bank.

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Home » Letters » Bank Letters » Loan Repayment Extension Request Letter – Sample Letter to Bank for Loan Repayment Extension

Loan Repayment Extension Request Letter – Sample Letter to Bank for Loan Repayment Extension

To, The Manager, _______ (Name of the Lender) _______ (Address of the Lender)

Date : __/__/____ (Date)

Subject: Request for loan repayment extension bearing Loan ID: ________ (Loan ID/Account Number)

Respected Sir/Madam,

I am _______ (your name) and a loyal customer of _______ (bank/company/other) _______ (Branch), holding a __________ (type of loan) loan account.

This letter is for submitting a request regarding my loan account i.e. _______ (Loan Account Number), The ______ (tenure) and EMI is ______ ( amount ). I have availed the loan for ___ (no. of months/years) and as per the discussion and offer received, I want to extend my loan for ___ (months). The main reason for loan repayment extension is _________ (mention reason).

Kindly, guide me through the procedure and confirm how to avail the facility.

Please find my loan account details for your reference mentioned below:

Account Number: _________ Registered Mobile Number: _________

Waiting for a response with all the requirements and information.

Thanks and Regards, _________ (Sender’s Name) _________ (Sender’s loan account number) _________ (Sender’s Contact Details)

Incoming Search Terms:

• Loan Repayment Extension Request Letter
• Sample Letter to Bank for Loan Repayment Extension

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