Family Loan Forgiveness Letter
Family Loan Forgiveness Letter
October 1, 2057
[RECIPIENT'S NAME]
[RECIPIENT'S ADDRESS]
Dear [RECIPIENT'S NAME],
I hope this letter finds you well. I am writing to you regarding the private familial loan that you were kind enough to extend to me on [DATE OF LOAN]. As you are aware, the circumstances under which this loan was extended were quite severe and I remain grateful for your generosity.
I am writing to initiate a dialogue toward potential forgiveness for the remaining amount of the loan, currently at [OUTSTANDING LOAN AMOUNT]. As you know, my intention has always been to honor your assistance and fully repay this loan. However, the ongoing financial difficulties make this regrettably unfeasible.
This is not a request taken lightly and believe me, I fully understand the burden it could place on you, but the situation demands extraordinary measures. I am hopeful that you can understand the extremity of my situation and further reflect upon the considerable repayments thus far, amounting to [REPAID LOAN AMOUNT].
Your act of forgiving part of or perhaps the entire debt would have an enormous impact on my current financial situation. Notwithstanding this, we must regard this issue devoid of sentimentality, with sharp practicality and frugality, honoring the Spartan nature of our bond.
Thank you in advance for considering this request. I look forward to discussing this matter further in person at a time that is convenient for you.
Sincerely,
[YOUR NAME]
