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 Mississippi Personal Loan Agreement Document Package is a comprehensive set of legal documents designed to dictate the terms and conditions of a personal loan in the state of Mississippi. It includes all the necessary agreements, forms, and disclosures involved in lending and borrowing money for personal use. This package serves as a binding contract between the lender and borrower and ensures clarity and protection for both parties involved in the loan transaction. Key components of the Mississippi Personal Loan Agreement Document Package may include: 1. Mississippi Personal Loan Agreement: This is the core document in the package, outlining the terms and conditions of the loan, such as the loan amount, interest rate, repayment schedule, late payment penalties, and any other provisions agreed upon by the lender and borrower. 2. Promissory Note: This document establishes the borrower's promise to repay the loan and specifies the repayment terms, including the repayment schedule, interest rate, and any late payment penalties. It serves as a legal instrument indicating the borrower's commitment to fulfill the loan obligation. 3. Security Agreement: In cases where collateral is used to secure the loan, a security agreement is included. This document establishes the borrower's pledge of collateral, such as personal property or real estate, as a security for the loan. It outlines the rights and responsibilities of both parties regarding the collateral. 4. Loan Agreement Disclosure Statement: This document provides information required by Mississippi law to be disclosed to the borrower before the loan is finalized. It includes details such as the total amount financed, finance charges, annual percentage rate (APR), and a payment schedule breakdown. The disclosure statement ensures transparency and compliance with state regulations. 5. Uniform Commercial Code (UCC) Financing Statement: If the loan involves personal property as collateral, this document is added to publicly record the lender's security interest in the collateral. Filing a UCC financing statement creates a public record of the lender's claim on the property, protecting the lender's rights. It is important to note that the exact contents of a personal loan agreement document package may vary depending on the specific requirements of the lender, borrower, and the nature of the loan. Other optional documents, such as a co-signer agreement or guaranty, may be included if applicable. In summary, the Mississippi Personal Loan Agreement Document Package serves as a comprehensive resource for establishing a legally binding personal loan in Mississippi. It ensures that both parties have a clear understanding of the loan terms and helps protect the rights and interests of both the lender and borrower.
