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.
Maine Personal Loan Agreement Document Package is a comprehensive collection of legal documents designed to facilitate the lending of personal loans in the state of Maine. It includes all the necessary paperwork and forms required to formalize and legalize a personal loan agreement between a lender and a borrower. This package ensures that both parties are protected and aware of their rights and obligations throughout the loan process. The Maine Personal Loan Agreement Document Package consists of various essential forms and agreements, such as: 1. Loan Agreement: This document outlines the terms and conditions of the loan, including the loan amount, interest rate, repayment schedule, and any applicable fees or penalties. 2. Promissory Note: A promissory note is a legally binding document that serves as evidence of a borrower's promise to repay the loan according to the agreed-upon terms. It specifies the loan amount, interest rate, repayment terms, and consequences of default. 3. Personal Guarantee Form: In cases where the borrower's creditworthiness is not strong, a personal guarantee form may be required. This form is signed by a third party who agrees to assume the responsibility of repayment if the borrower defaults. 4. Security Agreement: If the loan is secured by collateral, a security agreement is included in the package. It specifies the details of the collateral and describes the rights and responsibilities of both parties regarding its use and potential repossession. 5. Disclosure Statement: This document provides a clear and transparent breakdown of all fees, interest rates, and charges associated with the personal loan. It ensures that the borrower is well-informed about the cost of borrowing and avoids any hidden surprises. Different types of Maine Personal Loan Agreement Document Packages may cater to specific loan scenarios or individuals' unique circumstances. Some possible variations may include: 1. Secured Loan Agreement Package: This package would primarily focus on loans where collateral is provided to secure the loan, potentially resulting in more favorable terms and conditions. 2. Unsecured Loan Agreement Package: Designed for loans that do not require collateral, this package would typically provide terms and conditions specific to unsecured loans. 3. Business Loan Agreement Package: Tailored for personal loans used for business purposes, this package would address any additional considerations specific to the borrower's commercial activities. 4. Consolidation Loan Agreement Package: This package would cater to individuals seeking to consolidate multiple debts into one personal loan, providing a comprehensive set of documents relevant to debt consolidation. In summary, the Maine Personal Loan Agreement Document Package encompasses a range of legal forms essential for structuring and formalizing personal loans. It ensures clarity, protects both parties involved, and outlines the rights and responsibilities of the borrower and lender.
