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.
A loan agreement form with a guarantor is a legal document that outlines the terms and conditions of a loan, while also incorporating the involvement of a third-party guarantor who assumes responsibility for the loan repayment in case the borrower defaults. This type of agreement provides an extra layer of security to lenders and allows individuals with less than ideal credit histories to potentially secure a loan. Some keywords relevant to loan agreement forms with guarantors include: 1. Loan agreement: A legally binding document that sets out the terms and conditions of a loan. 2. Guarantor: A person or entity that agrees to take responsibility for loan repayment if the borrower fails to meet their obligations. 3. Borrower: An individual or organization that receives the loan and is liable for repayment. 4. Lender: The party providing the loan, typically a financial institution or individual. 5. Co-signer: A synonym for guarantor, referring to someone who signs the loan agreement alongside the borrower. 6. Default: The inability or failure to make loan repayments as scheduled. 7. Repayment terms: The agreed-upon conditions for returning the loan amount, including interest rates, monthly payments, and the loan duration. 8. Collateral: Assets pledged by the borrower as security against the loan, which can be liquidated if the loan defaults. 9. Personal guarantee: A legally binding promise made by the guarantor to assume the borrower's loan obligations. 10. Guaranteed loan: A loan that requires a guarantor or co-signer to ensure repayment. Different types of loan agreement forms with guarantors can vary depending on the purpose, amount, or terms of the loan. Some common types include: 1. Personal loan agreement with guarantor: This form is utilized when an individual requires a personal loan, such as for education, debt consolidation, or any personal financial need, with a third-party guarantor involved. 2. Business loan agreement with guarantor: This type of form is used when a business or organization needs funding and a guarantor is involved to provide the lender with added assurance. 3. Mortgage guarantor agreement: This form is specific to mortgage loans, where a guarantor is necessary to secure the loan for purchasing real estate. 4. Student loan agreement with guarantor: Commonly used for educational purposes, this form involves a guarantor who ensures that the student borrower will repay the loan after completing their studies. It is important to note that loan agreement forms with guarantors should be carefully drafted, including all necessary details and legal terms, to protect the interests of all parties involved. Consulting with a legal professional is advisable to ensure compliance with relevant laws and regulations.
