Whomsoever it may concern
I am forced to write this letter owing to the unfortunate circumstances I ended up in. I tried all ways to make the repayment of the loan regularly. But due to the economic crisis in the country, I lost my job and have been searching frantically to meet both the ends meet. It is a tough time for the whole family. With my wife’s salary we are able hardly bear the monthly expenses.
Paying the loan installment is extremely difficult in the present situation. I have been trying hard to get back to work but to no avail as of now. As soon I get placed in some job I would immediately start my loan repayment.
If the bank can postpone the loan payment date to another year, it would be of great help in the present circumstances. I understand the bank authorities have to follow certain rules and regulations. If it can be discussed with the bank legal authorities a decision can be reached upon, it will be of great help.
If things don’t go well even after a year’s recess, I am ready to undergo the consequences and the bank can take the necessary action after one year. But I am positive of getting some placement soon.
I request the bank authorities to issue a letter rescheduling my liabilities. I hope all of you understand my current situation and react accordingly.