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.
The Colorado Personal Loan Agreement Document Package is a comprehensive collection of legal documents designed to facilitate personal lending arrangements within the state of Colorado. It offers individuals and organizations a set of customizable templates and agreements that cover various aspects of personal loans, ensuring a clear and legally binding arrangement for both lenders and borrowers. The main component of the Colorado Personal Loan Agreement Document Package is the Personal Loan Agreement. This agreement sets out the terms and conditions of the loan, including loan amount, interest rate, repayment schedule, and any additional terms agreed upon by both parties. It establishes a legally enforceable contract that safeguards the rights and responsibilities of both the lender and the borrower. In addition to the Personal Loan Agreement, the document package may include other relevant forms and documents. This may consist of a Promissory Note, which outlines the borrower's promise to repay the loan, and a Loan Amortization Schedule, which details the installment plan and tracks the repayment progress. These documents are instrumental in ensuring proper documentation and tracking of the loan repayment process. Depending on the specific requirements and intricacies of the loan arrangement, the Colorado Personal Loan Agreement Document Package may feature various specialized agreements or templates. Some examples include a Secured Loan Agreement, which incorporates collateral to secure the loan, and a Co-Signer Agreement, in case a third party agrees to guarantee the loan. These additional agreements provide flexibility and allow customization based on the nature and preferences of the parties involved. Ultimately, the Colorado Personal Loan Agreement Document Package offers a comprehensive and easy-to-use resource for those seeking or providing personal loans in Colorado. It serves as a foundation for establishing clear, fair, and legally binding loan agreements, ensuring the protection of all parties involved and providing peace of mind throughout the loan process.
