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.
North Carolina Personal Loan Agreement Document Package is a comprehensive set of legal documents designed to formalize and outline the terms and conditions of a personal loan within the state of North Carolina. This package provides a convenient solution for borrowers and lenders to establish a clear agreement. The North Carolina Personal Loan Agreement Document Package includes various important documents necessary to complete the loan transaction. These documents typically consist of the following: 1. Personal Loan Agreement: This document serves as the main contract, outlining the terms of the loan including the loan amount, interest rate, repayment schedule, and any additional terms agreed upon by both parties. It provides legal protection for both the borrower and the lender. 2. Promissory Note: A promissory note is a legally binding document that establishes the borrower's promise to repay the loan and outlines the specific terms of repayment, including the amount, due dates, interest rate, and any late payment penalties. 3. Collateral Agreement: In certain cases, when securing the loan with collateral, a collateral agreement is included. This document specifies the nature and value of the collateral pledged by the borrower as security for the loan. 4. Guarantor Agreement: If a guarantor is involved in the loan, a separate agreement may be included. This document establishes the responsibilities of the guarantor, who agrees to take over the loan obligations in the event that the borrower defaults. 5. Disclosure Statements: These documents provide detailed information about the terms, costs, and risks associated with the loan. It ensures transparency and compliance with state and federal lending laws. 6. Legal Forms and Templates: The package may also include various legal forms and templates required to complete the loan transaction, such as a loan application, loan repayment schedule template, and promissory note modification forms. There may be variations of the North Carolina Personal Loan Agreement Document Package tailored to specific loan types, such as secured loans, unsecured loans, fixed-rate loans, variable-rate loans, and loans for specific purposes such as auto loans or home improvement loans. These variations cater to the unique requirements and circumstances of borrowers and lenders. In summary, the North Carolina Personal Loan Agreement Document Package provides a comprehensive set of legal documents necessary for formalizing a personal loan agreement in North Carolina. It incorporates various documents, ensuring transparency, protection, and clear communication between the borrower and lender.
