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.
Personal loan agreement format in Tamil is a written contract that outlines the terms and conditions between a lender and a borrower in Tamil Nadu, India. This agreement is used when an individual or an organization lends money to another individual or organization on a personal basis. It serves as a legal document that protects both parties involved in the loan transaction. The personal loan agreement format in Tamil typically includes the following key elements: 1. Loan Amount: This section specifies the exact amount of money being lent to the borrower. 2. Interest Rate: The agreement mentions the interest rate at which the borrowed amount is subjected. This may be a fixed rate or a variable rate. 3. Repayment Terms: The repayment terms outline the duration of the loan and the installment amounts to be paid at regular intervals, such as monthly or quarterly. 4. Security/Collateral: If the borrower pledges any collateral or security against the loan, it will be mentioned in this section. 5. Late Payment Charges: If the borrower fails to repay the loan as per the agreed terms, the agreement may mention the penalties or charges that will be imposed on late payments. 6. Prepayment Terms: In some cases, the agreement may contain provisions regarding prepayment of the loan, specifying any penalties or fees associated with early repayment. Different types of personal loan agreements in Tamil may include: 1. Simple Personal Loan Agreement: This is a straightforward loan agreement without any complex terms or conditions. It is suitable for small loan amounts and short-term repayment periods. 2. Secured Personal Loan Agreement: This type of agreement includes the provision of collateral, such as property or assets, to secure the loan. It provides the lender with added security in case of default. 3. Unsecured Personal Loan Agreement: Unlike the secured loan, this agreement does not involve any collateral. The borrower's creditworthiness is the basis for granting the loan. 4. Co-Signed Personal Loan Agreement: In this agreement, a third-party co-signer guarantees the loan repayment, sharing the responsibility with the primary borrower. This provides added assurance to the lender. 5. Installment Personal Loan Agreement: This agreement specifies fixed monthly installments, including principal and interest, over a predetermined period. It simplifies repayment by breaking it down into manageable parts. It is essential for both the lender and the borrower to carefully read and understand the personal loan agreement in Tamil before signing it. Furthermore, it is also recommended consulting with a legal professional to ensure compliance with applicable laws and regulations.
