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This form is to be used by funding recipients to request a deferral of principal and interest payments related to PENNVEST loans as part of the COVID-19 relief efforts.
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How to fill out request for payment deferral

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How to fill out request for payment deferral

01
Obtain the request for payment deferral form from your lender or financial institution.
02
Fill in your personal information such as name, address, and contact details.
03
Provide your account number and any relevant loan details.
04
Clearly state the reason for requesting the payment deferral.
05
Indicate the period for which you are requesting the deferral.
06
Review the lender's policies regarding deferral requests to ensure compliance.
07
Sign and date the form as required.
08
Submit the completed form to your lender through the designated method (email, mail, online portal).
09
Keep a copy of the submitted request for your records.

Who needs request for payment deferral?

01
Individuals facing financial hardship due to unemployment, illness, or other unforeseen circumstances.
02
Borrowers looking to temporarily reduce their payment obligations on loans or mortgages.
03
Students who may be unable to make payments on their student loans.
04
Anyone who anticipates difficulty in making upcoming payments and wants to seek relief.
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A request for payment deferral is a formal ask made by a borrower to temporarily postpone their scheduled payments on a loan or debt due to financial hardship or unforeseen circumstances.
Typically, a borrower who is experiencing financial difficulties and is unable to meet their payment obligations is required to file a request for payment deferral.
To fill out a request for payment deferral, borrowers should provide their personal information, loan details, the reason for the deferral, and any supporting documents that verify their financial situation.
The purpose of a request for payment deferral is to provide relief to borrowers facing temporary financial challenges by allowing them to postpone their payments without risking penalties or negative impacts on their credit score.
Information that must be reported includes the borrower’s identification details, account number, the amount owed, the reason for the deferral, and any relevant financial documentation to support the request.
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payment deferral PENNVEST COVID-19 relief loan servicing principal and interest funding recipient official action debt obligation relief efforts financial assistance

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