Letter to Financial Institution

Letter to Financial Institution informing them of difficulty in meeting repayments and suggesting alternative scheme :

From :

T. Vasu,
191 / N - Patricia Avenue
Liverpool – 600 020
Phone : 0011 - XXXXXXXX
Fax : 0011 - XXXXXXXX

6 March - 19XX

To :

Mr. M. Marian,
The Manager,
The Maalyvalley Financial Institution,
326 / H - Raman Nair Street,
Maalyvalley – 682 016.

Dear Mr. Marian,

RE : Agreement No : 1998 / KLOP / 16652

I am having some difficulty in meeting the repayments for the loan under the terms of the above agreement. For the past 15 months I have paid regularly. However I now find that I have additional expenses that will affect my financial position drastically.

I do not wish to default on my debt. Therefore, I would be most grateful if you would consider allowing me to make smaller amounts in repayment over a longer period. I am sure I can afford $ 200 per month as opposed to $ 350 per month at present.

Please let me know if this is acceptable to you. If not could you suggest alternative terms? I shall be happy to come to your office to discuss it.

Yours Truly,


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