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 Indiana Personal Loan Agreement Document Package is a comprehensive and legally binding set of documents that individuals in Indiana can use when entering into a personal loan arrangement. This package is designed to facilitate a smooth and secure borrowing process between lenders and borrowers, providing all necessary paperwork and guidelines for both parties involved. There are different types of Indiana Personal Loan Agreement Document Packages available, depending on the specific needs and preferences of the individuals involved. Some of these variations may include: 1. Secured Personal Loan Agreement: This type of agreement is typically used when the borrower offers collateral, such as a property or vehicle, to secure the loan. The agreement outlines the terms and conditions of the loan, the repayment schedule, and the consequences of default. 2. Unsecured Personal Loan Agreement: In this type of agreement, the borrower does not provide any collateral to secure the loan. The document outlines the terms, interest rate, and repayment schedule, along with the borrower's responsibilities and consequences if the loan is not repaid. 3. Personal Line of Credit Agreement: This agreement is different from a traditional personal loan, as it establishes a revolving line of credit that the borrower can access as needed. The document outlines the maximum credit limit, interest rate, repayment terms, and conditions for borrowing and repaying funds. 4. Co-Signed Personal Loan Agreement: When an individual does not meet the lender's credit requirements, a co-signer may be required to guarantee repayment. This agreement outlines the responsibilities of both the borrower and the co-signer, including repayment terms and consequences for default. The Indiana Personal Loan Agreement Document Package typically includes essential documents such as: a. Loan Agreement: This legally binding document outlines the terms and conditions of the loan, including the amount borrowed, interest rate, repayment schedule, and any applicable fees. b. Promissory Note: This document serves as a written promise to repay the loan, including the specific terms and conditions agreed upon by the borrower and lender. c. Disclosure Statement: This document provides transparent information about the loan, including interest rates, fees, and any additional charges. d. Security Agreement (if applicable): In the case of a secured personal loan, this document details the collateral provided by the borrower and the rights and responsibilities of both parties regarding the collateral. e. Co-Signer Agreement (if applicable): When a co-signer is involved, this document outlines the co-signer's obligations and responsibilities, including the guarantee of loan repayment. The Indiana Personal Loan Agreement Document Package aims to protect the rights of both lenders and borrowers and ensure clarity and fairness in the lending process. It is essential for individuals seeking a personal loan in Indiana to familiarize themselves with the specific requirements and terms associated with their chosen loan type and carefully review and understand all documents included in the package before signing any agreements.
