This package includes the essential forms needed for making and collecting a personal loan. These forms are an important tool for avoiding future misunderstandings and disputes. Purchase of this package is a savings of more than 50% over purchase of the forms individually!
The following forms are included in this package:
Unsecured Installment Payment Promissory Note for Fixed Rate - This is a Promissory Note for your state. The promissory note is unsecured, with a fixed interest rate, and contains a provision for installment payments.
Secured Promissory Note - This form is a secured Promissory Note. The note includes a provision which describes the collateral to be used as security on the loan. The form also contains a section which details various actions which would constitute default on the note.
Personal Guaranty - General - This form is a Guaranty. The form provides that the guarantor assures the full and prompt payment of all obligations incurred by the payor.
Sample Letter for Past Due Balance - This is a sample notice for use when a debtor is overdue in payments on a promissory note. A time period for making payment before further action is taken, which may be modified to suit your needs, is provided.
Complaint for Past Due Promissory Note - The form is a complaint for a default on payments due pursuant to a promissory note. The complaint adopts the "notice pleadings" format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another.
Promissory Note with Installment Payments - This form is a Promissory Note. The form provides that the borrower promises to pay the lender in monthly installments. The agreement also provides that there will not be a pre-payment penalty on the note.
Notice of Default in Payment Due on Promissory Note - This form is a notice of a failure to make a required payment when due pursuant to a promissory note. The form also contains a warning to the breaching party that legal action will be taken unless the breach is remedied on or before a certain date. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a notice in a particular jurisdiction.
Resolution of Meeting of Corporation to Make Specific Loan - This form is a resolution of meeting of a board of directors or shareholders to make specific loan. This form may be easily modified for use by other business entities.
Receipt for Payment of Account - This form is a Receipt. The form provides that the undersigned acknowledges the receipt of a certain sum of money which constitutes payment on the account named in the receipt. The receipt also lists the balance remaining on the account, if applicable.
Promissory Note with Confessed Judgment Provisions - This form is a Promissory Note with Confessed Judgment Provisions. The maker of the note promises to repay a loan received from the lender, with interest. The form provides that if the maker defaults upon the loan, the lender may exercise the option of demanding the immediate payment of the entire loan. The debtor agrees to have judgment entered in the lenders favor if court action is brought to enforce collection.
Balloon Unsecured Promissory Note - This form is a model balloon promissory note, with a fixed interest rate. A balloon note is structured such that a large payment is due at the end of the repayment period. Adapt to fit your specific circumstances.
The Form loan document for LIC policy is a crucial document that allows policyholders to avail loans against their LIC (Life Insurance Corporation) policies. This document outlines the terms and conditions, repayment schedule, and other important details related to the loan. It serves as a legal agreement between the policyholder and LIC. There are different types of Form loan documents available for LIC policies based on the type of policy and the purpose of the loan. Some commonly known forms include: 1. Form 5196: This form is specifically used for availing loans against LIC policies. It requires specific details such as policy number, policyholder's name, loan amount requested, loan type, loan purpose, etc. This form also includes a declaration stating that the policyholder understands the loan terms and accepts the liability. 2. Form 680: This form is used for adjusting or assigning any existing assignments on the policy while applying for a loan. Assignments may refer to assigning the LIC policy as collateral to a lender or assigning the policy in favor of someone else as security or collateral. 3. Form 690: This form is required when the policyholder wants to borrow against their LIC policy but has assigned it to someone else as security. It allows the policyholder to inform LIC about the assignment and requests the lender to give consent for the loan. 4. Form 5241: This form is used for taking a loan against Market Linked Insurance Plans (Clips) offered by LIC. Clips are investment-cum-insurance products, and this form is specifically designed for ULIP policyholders who wish to avail loans against their policies. 5. Form 5114: This form is applicable for policyholders who want to avail a loan against their Endowment policies. Endowment policies are traditional insurance plans where the maturity amount is paid either upon survival to the policy term or to the nominee in case of the policyholder's demise. When filling out any of these Form loan documents, it is essential to provide accurate and complete information to ensure a smooth loan approval process. The loan amount, interest rate, tenure, and repayment terms are determined based on the policy type, policyholder's age, policy value, and other relevant factors. Note: The specific names and numbers of the forms may vary over time, so it's important to refer to the latest forms provided by LIC for loan-related purposes.
