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Ranilo B. Jimenez Landbank of The Philippines

The borrower is writing to the AVP of Landbank's Bulacan Lending Center to request settlement of an outstanding loan. Due to failed business ventures and seeking employment abroad, the borrower was unable to make regular payments. To feasibly settle the loan, the borrower requests a reduction or condonation of penalties and interest that have caused the outstanding amount to more than double the original loan. The borrower also asks to pay the settlement in installments and offers to send a representative to discuss in person.

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Roland Rosales
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7K views1 page

Ranilo B. Jimenez Landbank of The Philippines

The borrower is writing to the AVP of Landbank's Bulacan Lending Center to request settlement of an outstanding loan. Due to failed business ventures and seeking employment abroad, the borrower was unable to make regular payments. To feasibly settle the loan, the borrower requests a reduction or condonation of penalties and interest that have caused the outstanding amount to more than double the original loan. The borrower also asks to pay the settlement in installments and offers to send a representative to discuss in person.

Uploaded by

Roland Rosales
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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26 August 2020

RANILO B. JIMENEZ
AVP/Head-Bulacan LC
LANDBANK OF THE PHILIPPINES
Bulacan Lending Center
Mac Arthur Hi-Way, Malolos, Bulacan

Dear Mr. Jimenez,

I write in connection with my Landbank Loan with Loan Account No. _______________.

I would like to formally express my desire to settle the subject loan with Landbank. It was never
my intention to renege from my obligation to pay the said loan. However, due to financial
constraints brought about by failed business ventures which forced me to seek employment
abroad, I was not able to religiously pay the monthly amortizations.

In order me to be able to feasibly settle the said loan, I would like to request your good Office
and/or Landbank for the condonation of the imposed penalties and interests or at least for the
reduction of the same. It should be noted that I have already paid Landbank the total amount of
______________ out of the Php___________ loan amount. However, as per last checking, the
total amount outstanding has already reached the amount of Php_______________ which is
already more than double the amount of the loan due to the imposition of 24% penalty and 10%
interest. In addition, I also would like to request that I be allowed to pay the settlement amount
in installment.

I hope that the foregoing is in order and I look forward to your and/or Landbank’s favorable
action on my request. If needed, I can send my authorized representative to your good Office to
personally meet to discuss the settlement of my said loan account with Landbank.

Thank you.

Very truly yours,

NAME
Borrower
Address
Contract No

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