The financial condition of a person may not always remain
constant. There may be times when you are in desperate need of financial
assistance. It is during this time that friends come to your rescue by proving
loan. However, it is the moral responsibility of a friend to pay back the favor
in time. Sometimes, things don’t pan out according to the script and result in
delay in payment. This is a simple apology
letter to a friend for delay in payment of a loan which he had borrowed during
his financial need. The article
addresses the question of properly presenting the letter to the concerned person.
The letter may be modified according to the situation and preference.
To
ABC
C/0
XYZ
Address
of ABC
Subject: Apology letter for delay in payment of loan
Dear ABC,
I
hope you are hale and hearty. I am doing fine by the grace of god and good will
of dear friends like you. I write this letter to you in response to your letter
dated [DD-MM-YY].
Please accept my apology as I could not
send the loan amount to you in time. I had all the intention to repay the said
amount but just could not manage to collect the fund in the stipulated time
frame. I hope you don’t misunderstand me.
I will be remitting the loan amount of
Rs 3000 in 6 installments with the first installment of Rs 500 being sent in a
week. The remaining installments will be paid off within 2 months. However, if
the arrangement is difficult for you, I will try to take a loan to repay you.
I understand your current position and
can’t thank enough for supporting me during my time of need. I will be grateful
if you can agree to the above arrangement. Please do let me know. I shall do my
best not to be a cause of further embarrassment to you in future.
With my sincere apologies,
Yours truly
Your Name
Your Address
Your Contact No.
Place
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