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 form document with credit is a crucial piece of paperwork that is used by financial institutions, such as banks or credit unions, to evaluate and process personal loan applications. This document provides detailed information about the borrower's credit history, financial standing, and personal details, which are essential in determining the eligibility, interest rates, and terms of the loan. The personal loan form document with credit typically includes the following key elements: 1. Personal Information: This section requires the borrower to provide their full name, contact details, social security number, date of birth, and residential address. This information helps identify the borrower and establish their identity. 2. Employment and Income Details: In this section, the borrower is required to disclose their employment status, including the name of the employer, job position, duration of employment, and monthly income. A stable employment history and sufficient income play a vital role in determining the applicant's ability to repay the loan. 3. Credit History: This part of the form delves into the borrower's credit history and includes details such as current outstanding debts, credit card balances, payment history, bankruptcies, foreclosures, and any previous delinquencies. Lenders use this information to assess the borrower's creditworthiness and evaluate the risk associated with granting a loan. 4. Financial Assets and Liabilities: This section requires the borrower to list their financial assets, such as savings accounts, investments, and real estate properties, as well as their existing liabilities, including outstanding loans, mortgages, and credit card debts. This information aids the lender in understanding the borrower's overall financial position and ability to handle additional debt obligations. 5. Loan Amount and Purpose: Here, the borrower specifies the desired loan amount and explains the purpose of the loan, whether it is for debt consolidation, home improvements, education, or other personal needs. This information assists the lender in assessing if the loan purpose aligns with their criteria for granting personal loans. 6. Co-borrower/Guarantor Information: If the borrower intends to have a co-borrower or a guarantor, their personal and financial information may be required in this section. Co-borrowers or guarantors provide added security for the lender and may have an impact on the loan terms and interest rates. Different types of personal loan form documents with credit may vary based on the lender's specific requirements or the purpose of the loan. Some specialized types include: 1. Mortgage Loan Application: This form is used specifically for individuals seeking a personal loan to finance a home purchase or refinance an existing mortgage. 2. Auto Loan Application: Designed for individuals seeking a personal loan to purchase a vehicle, this form may require additional information related to the automobile being financed. 3. Student Loan Application: Personal loan form documents tailored for students looking for financing to cover educational expenses, including tuition fees, books, and living costs. It's crucial for borrowers to fully understand and accurately complete the personal loan form document with credit as any discrepancies or incomplete information can delay the loan approval process. Additionally, borrowers should review their credit history beforehand, ensuring accuracy and addressing any potential issues, to enhance the chances of securing a favorable loan.
