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.
Ohio Personal Loan Agreement Document Package refers to a comprehensive set of legal documents and forms that are specifically tailored for individuals in Ohio who are seeking or providing personal loans. These documents are essential to ensure that both parties involved in the lending transaction are fully aware of their rights, responsibilities, and obligations. The Ohio Personal Loan Agreement Document Package consists of various forms and contracts that can be customized according to the specific requirements of the loan agreement. Some key documents included in this package are: 1. Loan Agreement Form: This document outlines the terms and conditions of the personal loan, including the loan amount, interest rate, repayment schedule, and any additional fees or charges. 2. Promissory Note: A promissory note serves as a legally binding agreement that states the borrower's promise to repay the loan, including the terms of repayment, penalties for late payments, and remedies in case of default. 3. Disclosure Statement: This document discloses important information related to the loan agreement, such as the APR (Annual Percentage Rate), total cost of the loan, and any additional fees or charges. 4. Security Agreement: In cases where the loan is secured by collateral, a security agreement is included in the package. This document specifies the collateral being used to secure the loan and outlines the rights and responsibilities of both parties. 5. Guaranty Agreement: If a third party guarantees the loan, a guaranty agreement is included. This agreement establishes the obligations of the guarantor in case the borrower defaults on the loan. 6. Borrower Consent and Acknowledgment Form: This form ensures that the borrower has fully understood the terms and conditions of the loan agreement and provides their consent to enter into the agreement. 7. Lender Consent and Acknowledgment Form: Similarly, this form ensures that the lender acknowledges and agrees to the terms and conditions of the loan agreement. 8. Collection and Late Fee Policy: This document outlines the lender's policy regarding the collection of late payments and any additional fees or penalties that may be imposed in case of non-compliance by the borrower. Different types of Ohio Personal Loan Agreement Document Packages may exist based on the specific nature of the personal loan, such as secured or unsecured loans, fixed or variable interest rates, and individual or joint borrowers. It is crucial to choose the appropriate package that aligns with the specific requirements and circumstances of the loan agreement to ensure legal compliance and protect the rights of both parties involved.
