How would you handle a request for extension on unsecured loan?

[Rebecca Lujan]

I loaned money out of my self directed IRA for an unsecured loan that the borrower did not pay by due date, which was yesterday, 2/1. I was the one who reached out to the borrow, and I did receive a response via text with a request for a short extension. I'm fine with an extension, in writing, but would like to know how you would write it, especially if you see red flags?

[Bob S.]

Quote from @Rebecca Lujan:

I loaned money out of my self directed IRA for an unsecured loan that the borrower did not pay by due date, which was yesterday, 2/1. I was the one who reached out to the borrow, and I did receive a response via text with a request for a short extension. I'm fine with an extension, in writing, but would like to know how you would write it, especially if you see red flags?

Of course get all extensions in writing, and the penalty for being late, everything in writing. Also I STRONGLEY suggest you allow your attorney to handle this before it gets out of hand 
Good luck