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 New York Personal Loan Agreement Document Package refers to a comprehensive set of legal documents necessary for creating a loan agreement between a lender and a borrower in the state of New York. This package contains various essential forms and agreements that outline the terms and conditions of the loan, ensuring that both parties are informed and protected throughout the borrowing process. The New York Personal Loan Agreement Document Package typically includes the following documents: 1. Loan Agreement: This is the primary document that outlines the terms and conditions of the loan, including the loan amount, interest rate, repayment schedule, late payment penalties, and any other specific terms agreed upon by the lender and borrower. 2. Promissory Note: A promissory note is a written promise to repay the loan amount, including the principal and any applicable interest, by a specified date. It includes details such as the borrower's name, the lender's name, the loan amount, interest rate, and repayment terms. 3. Security Agreement: In certain cases, lenders may require collateral to secure a personal loan. The security agreement details the collateral being used, such as a car, real estate, or other valuable assets, and the terms of securing the loan against that collateral. 4. Guaranty: If the borrower lacks sufficient creditworthiness, a guarantor may be required to guarantee the loan repayment. A guarantor is someone who agrees to take responsibility for the loan if the borrower defaults. The guaranty document outlines the obligations and liabilities of the guarantor. 5. Disclosure Statement: Lenders are legally required to disclose certain information to borrowers, such as the total cost of borrowing, any fees or charges, and the annual percentage rate (APR). The disclosure statement provides this information in a clear and readable format, ensuring transparency in the loan agreement. 6. Affidavit of Good Faith: This document states that the lender and borrower have entered into the loan agreement in good faith, declaring that all information provided is accurate and truthful. It is important to note that the New York Personal Loan Agreement Document Package may vary based on the specific requirements of the lender and borrower. Additionally, there may be different variations or templates available for different types of personal loans, such as secured personal loans, unsecured personal loans, or loans for specific purposes like education or medical expenses. However, the core documents mentioned above are generally included in most New York Personal Loan Agreement Document Packages.
