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 is a document used by financial institutions or lenders to gather the necessary information from borrowers who are applying for a personal loan. This form helps streamline the loan application process and ensures that all essential details are captured accurately. Below are two key points explaining the personal loan form and its types: 1. Purpose of a Personal Loan Form: A personal loan form serves as a standardized tool to collect vital information required by lenders to evaluate a borrower's eligibility for a personal loan. It includes fields for personal details, employment information, financial background, loan amount, desired terms, and any collateral or guarantor information necessary. By providing this information, borrowers enable lenders to assess their creditworthiness, repayment capability, and determine the terms and interest rates they can offer. 2. Types of Personal Loan Forms: a. Basic Personal Loan Application Form: This is the most common type of personal loan form utilized by a majority of financial institutions. It includes sections for personal information such as name, address, contact details, social security number, employment history, income details, and expenses. This form typically enables borrowers to specify the loan amount, desired repayment period, and any additional requirements or special considerations. b. Online Personal Loan Application Form: With the advent of digitalization, many lenders now offer the option to fill out personal loan forms online. These forms are accessible through the lender's website or online platforms, allowing borrowers to conveniently input their information digitally. Online personal loan forms often have enhanced features such as automated calculations, pre-filled data, and built-in validation tools to ensure accuracy. This type of form saves time and is increasingly popular due to its ease of use and accessibility. In conclusion, a personal loan form is a crucial document that facilitates the loan application process by gathering all necessary information from borrowers. The two types mentioned above, a basic personal loan application form and an online personal loan application form, are commonly used to collect essential details, ensuring a comprehensive evaluation of borrowers' eligibility.
