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.
Idaho Personal Loan Agreement Document Package refers to a comprehensive set of legal documents designed to facilitate the lending and borrowing process between individuals residing in Idaho. These documents serve as a binding contract that outlines the terms and conditions of a personal loan, ensuring clarity and protection for both the lender and the borrower. The Idaho Personal Loan Agreement Document Package typically includes several essential components: 1. Idaho Personal Loan Agreement: This document serves as the core of the package, outlining the loan's purpose, the amount borrowed, the interest rate, repayment terms, and any applicable fees or penalties. It specifies the responsibilities and obligations of both parties involved. 2. Promissory Note: A promissory note is a legally enforceable document that details the borrower's promise to repay the loan. It includes the repayment schedule, provisions for late payment, and any collateral or security provided against the loan. 3. Idaho Loan Agreement Addendum: In certain cases, an addendum may be necessary to address specific terms or conditions surrounding the loan. This document is used to modify or supplement the main loan agreement to include additional provisions agreed upon by both parties. 4. Idaho Loan Amortization Schedule: This schedule provides a detailed breakdown of the loan repayment, including the amount of principal and interest to be paid for each installment. It helps the borrower understand the repayment timeline and the total cost of the loan. 5. Idaho Loan Default Notice: This document outlines the consequences and procedures in the event of borrower default. It highlights the actions the lender may take to recover the outstanding debt, such as imposing penalties, initiating legal action, or seizing collateral. 6. Idaho Loan Release and Release of Lien: If the loan is fully repaid, these documents acknowledge the satisfaction of the debt and release the borrower from any further obligations. The release of lien removes any claim the lender had on collateral used to secure the loan. It is important to note that variations of the Idaho Personal Loan Agreement Document Package may exist, depending on the specific circumstances of the loan. For instance, there may be different packages for secured personal loans (requiring collateral), unsecured personal loans (without collateral), or loans with variable interest rates. These variations accommodate the diverse needs and preferences of both lenders and borrowers in Idaho. In conclusion, the Idaho Personal Loan Agreement Document Package encompasses a collection of legal documents designed to establish and regulate personal loans. These documents provide a clear framework for the lending and borrowing process, ensuring transparency and protection for all parties involved.
