An apology letter for a late payment is an expression of regret for not being able to fulfill your obligation when it became due.

Most often, people disregard the essence of an apology letter. However, this letter signifies your unintentional and temporary inability to pay your obligation. The purpose of writing is to let your lender realize that you have no plan to avoid paying what you owe.

When your creditor receives an apology letter, there is a tendency for them to believe your explanation and understand your situation. Rather than cutting the communication, it will be beneficial to express your regret for the late payment of your financial obligation.

Sample Letter #1

From:
Parker How
Jones Manufacturing
123 Park Avenue
Orissa, Texas 22222
222-555-1000

To:
Oscar Rockefellow
321 42nd Avenue
Orissa, Texas 22222

Dear Mr. Rockefellow,

Jones Manufacturing is very sorry for not being able to pay its annual lease in the amount of $18,000. We were doing everything to meet our necessary expenditures but our operation and most of our customers were affected tremendously by the recent earthquake. We are aware of our obligation but we really could not make the payment on time.

It will be highly appreciated if you could extend the period during which we can pay our annual lease. For a period of five years, we have showed that Jones Manufacturing is a good payer; this one is a rare incident. It so happened that at present we are trying to be back on our feet.
Please accept our apology for any inconvenience our company has caused you. Thank you for your understanding and we do pray for your consideration in this regard.

Parker How

Sample Letter #2

From:
Parker How
123 Park Avenue
Orissa, Texas 22222
222-555-1000

To:
Oscar Rockefellow
321 42nd Avenue
Orissa, Texas 22222

Dear Mr. Rockefellow,

I deeply regret that it has taken so long to remit my monthly payment for the condominium which I purchased on credit. I was hospitalized for a week due to respiratory tract infection and the money I saved for the condominium was paid to the hospital instead.

At present I am ready to pay my obligation. I have enclosed a check amounting to $2,543.69 representing the April installment and its corresponding interest and penalty to clear up my obligation.
Again, I am sorry to be late with my payment but I do hope that you’ll be courteous enough to understand my situation.

Parker How