Loan Reschedule Letter Format
[Date]
To,
[Loan Officer’s Name]
[Bank Name/Loan Provider Name]
[Branch Name/Branch Address]
Dear [Loan Officer's Name],
I hope this letter finds you well. I am writing to formally request the rescheduling of my loan repayment under Loan Account No. [Your Loan Account Number] due to [mention the reason, e.g., financial difficulties, loss of job, medical emergency, etc.].
Unfortunately, my current financial situation does not allow me to maintain the existing repayment schedule.
I value the opportunity you have given me through the loan and remain committed to repaying it fully. However, I would like to request a revision of the repayment schedule to better align with my present financial capabilities. I am proposing the following terms for consideration:
New Repayment Period: [Specify desired new period]
Installment Amount: [Propose a manageable installment amount]
Reason for Rescheduling: [Briefly describe the reason for your request, e.g., reduced income, unforeseen expenses, etc.]
I am confident that a revised repayment plan will allow me to meet my obligations while avoiding any default on the loan. Please let me know if any additional documentation or information is required to process this request.
I truly appreciate your time and understanding in this matter, and I look forward to your positive response. I am available for a meeting or further discussion at your convenience to work out a feasible solution.
Thank you for your attention to this matter.
Yours sincerely,
[Your Name]
[Your Email]
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