Suggesting Alternative Repayment Policy from Financial Institution Letter Sample

[Your name]
[Address]
[Date]
[Telephone number]

The Manager
[Name]
[Address of the bank]

Dear Sir,

An unexpected financial difficulty now makes me hard for the repayments for the loan under the current terms. Over the last 15 months, I have made repayment 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 $250 per month instead of the current of $400 per month.

Please inform me if this acceptable to you. If not, could you please suggest alternative terms? I am happy to talk more about this matter.

Yours faithfully,

[Your name]