Loan extension
Extension Details: Requesting to extend my loan repayment date by 2 weeks, from the 24th of June, 2025 to 8th of July, 2025.
Extension Duration : 2 week maximum(24th June, 2025 to 8th July 2025)
New Repayment date : 8th or 9th July, 2025
New Repayment amount : $525
As it is more than 10 days. Minimum interest should be 10%. So, the new repayment amount should be 550$.
I am paying 10% interest for 2 weeks and not for one full month, I am paying $525 and not $550
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I just saw rule number 11, my bad, make my extension one month then..
That is from 24th June to 24th July, that's 30 days, I will pay you $525 on the 8th or 9th of July, and pay the remaining $25 on or before 24th July, that's a total of $550, hope this is OK for you?