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 South Dakota Personal Loan Agreement Document Package is a comprehensive set of legal documents used in the state of South Dakota to establish the terms and conditions of a personal loan between two parties. This package ensures that both the borrower and the lender are protected and have a clear understanding of their respective obligations. The Personal Loan Agreement is the cornerstone document in this package and outlines the key aspects of the loan, including the loan amount, interest rate, repayment terms, and any collateral used to secure the loan. It provides clarity and legal enforceability to the loan agreement. In addition to the Personal Loan Agreement, the package may include other essential documents such as the Promissory Note, which serves as a written promise from the borrower to repay the loan at the agreed terms. This document outlines the payment schedule, late fees, and any applicable penalties in case of default. Another crucial document in the South Dakota Personal Loan Agreement Document Package is the Loan Agreement Amendment. It allows both parties to modify certain terms of the loan agreement if needed, providing flexibility as circumstances change. If the loan involves the use of collateral, a Collateral Agreement may be included in the package. This document outlines the specifics of the collateral, such as its description, value, and the rights and responsibilities related to its possession and use. For individuals who wish to secure their loan with a Guarantor, a Guarantor Agreement may be part of the package. This document formalizes the obligations and responsibilities of the guarantor, who guarantees the repayment of the loan if the borrower defaults. It is worth noting that there may be variations of the South Dakota Personal Loan Agreement Document Package, depending on the specific needs and requirements of the parties involved. The names of these variations may differ, but they generally cover the same essential elements of a personal loan agreement. Overall, the South Dakota Personal Loan Agreement Document Package provides a comprehensive set of legally binding documents designed to protect both parties involved in a personal loan transaction. It ensures clarity, enforceability, and security in the lending process, helping facilitate fair and responsible borrowing practices.
