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.
Guam Personal Loan Agreement Document Package is a comprehensive set of legal documents that facilitate the lending and borrowing of money between individuals in Guam. These documents outline the terms and conditions of the loan agreement, ensuring both parties understand their rights and responsibilities. The Guam Personal Loan Agreement Document Package consists of various documents that cover different aspects of the loan agreement. These documents typically include: 1. Loan Agreement: This document outlines the key terms of the loan, such as the loan amount, interest rate, repayment schedule, and any additional fees or charges. It also includes provisions regarding default, late payments, and prepayment. 2. Promissory Note: A promissory note is a written promise to repay the borrowed money. It includes details such as the amount borrowed, the interest rate, the repayment terms, and the consequences of defaulting on the loan. 3. Security Agreement: In some cases, the borrower may pledge collateral to secure the loan. A security agreement establishes the rights and obligations of the borrower and lender regarding the collateral, which could be personal property or real estate. 4. Guarantor Agreement: If a third party guarantees the borrower's repayment, their responsibilities and liabilities are outlined in this document. The guarantor agrees to step in and repay the loan if the borrower fails to do so. 5. Disclosure Statement: This document includes important information about the loan, such as the total cost of the loan, the annual percentage rate (APR), and any additional fees or charges. It ensures transparency and helps borrowers make informed decisions. 6. Loan Application Form: This form collects vital information about the borrower, including personal and financial details. It helps the lender assess the borrower's creditworthiness and evaluate the loan application. 7. Loan Repayment Schedule: This document outlines the repayment plan, including the installment amounts, due dates, and the total number of payments. It ensures clarity and helps both parties stay organized. 8. Waiver of Notice: This document acknowledges that the borrower waives their right to receive advance notice in certain circumstances, such as changes in loan terms or legal actions. The Guam Personal Loan Agreement Document Package may also include additional forms based on specific requirements or circumstances. Examples include co-borrower agreements, subordination agreements, and consents to jurisdiction and venue. These documents serve as crucial legal instruments, protecting the rights of both the borrower and lender, and ensuring a fair and transparent lending process. Whether it's a simple personal loan or a more complex transaction involving collateral or guarantees, having a comprehensive document package helps prevent future disputes and provides a clear framework for the loan agreement.
