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 personal loan document form is a crucial piece of paperwork that outlines the terms and conditions of a personal loan agreement between a lender and a borrower. It serves as a legal record and establishes the responsibilities and rights of both parties involved in the loan transaction. This document is typically filled out by the borrower and must be thoroughly reviewed before signing to ensure a complete understanding of the loan terms. Personal loan document forms vary depending on the lending institution and the specific requirements of the loan. However, they generally include essential information such as the loan amount, interest rate, repayment terms, and any associated fees or charges. The main purpose of this form is to protect both the lender and borrower from any future disputes or misunderstandings. Key components often found in personal loan document forms include: 1. Loan Amount: This section specifies the total amount of money that the borrower is requesting from the lender. It is important to accurately enter this figure to prevent borrowing more or less than intended. 2. Interest Rate: The interest rate is the additional amount charged by the lender for borrowing the money. It is usually represented as an annual percentage rate (APR) and determines the overall cost of the loan. 3. Repayment Terms: This section details the repayment schedule, including the frequency of payments (e.g., monthly, bi-weekly) and the duration of the loan. It may also mention any penalties or late fees for missed or delayed payments. 4. Fees and Charges: Personal loan document forms often highlight any additional costs associated with the loan, such as origination fees, processing fees, or prepayment penalties. Borrowers should carefully review this section to understand the total cost of the loan. 5. Collateral: In certain cases, lenders may require collateral to secure the loan. This section would specify the assets offered as collateral, such as property or vehicles, and outline the consequences if the borrower fails to repay the loan. Personal loan document forms play a crucial role in the loan process, ensuring transparency and accountability for both parties. By carefully reviewing and understanding the information provided in this form, borrowers can make informed decisions regarding their financial obligations. Different types of personal loan document forms may include secured personal loan forms, unsecured personal loan forms, payday loan forms, car loan forms, home improvement loan forms, debt consolidation loan forms, and more. Each type has specific requirements and terms tailored to the purpose of the loan, offering borrowers the opportunity to choose what best suits their needs.
