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 Arizona Personal Loan Agreement Document Package is a comprehensive set of legal forms and contracts used in the state of Arizona for borrowing or lending money between individuals. These documents outline the terms and conditions of the loan, ensuring both parties are protected and aware of their rights and obligations. The package typically includes the following essential documents: 1. Arizona Personal Loan Agreement: This document outlines the loan amount, interest rate, repayment terms, and any additional provisions agreed upon by the borrower and lender. It governs the entire lending process and serves as the main contract between the parties. 2. Promissory Note: This is a legally binding document that serves as an acknowledgment of the borrower's debt to the lender. It details the repayment schedule, interest rate, and consequences for defaulting on payment. The promissory note provides clarity on the financial obligations of the borrower. 3. Arizona Loan Agreement Amendment: In case of any changes or modifications to the original loan agreement, this document is used to formalize the adjustments agreed upon by both parties. It ensures that all changes are legally binding and recorded properly. 4. Personal Guarantee Agreement: This agreement is used when the borrower does not possess sufficient collateral for the loan. It holds a third party responsible for the loan repayment in case the borrower defaults. This document provides an additional layer of security for the lender. 5. Loan Extension Agreement: If both parties agree to extend the loan term, this document is used to outline the new repayment schedule and any other relevant terms. It helps avoid confusion or disputes regarding the extended loan period. While the basic package usually includes these forms, there might be variations or additional documents depending on the specific requirements of the loan. Some other possible types of Personal Loan Agreement Document Packages in Arizona may include: — Secured Personal Loan Agreement Package: This package includes documents specifically tailored for loans that are secured by collateral, such as a vehicle or property. It may include a Security Agreement, which details the collateral and the responsibilities of both parties regarding its maintenance and valuation. — Unsecured Personal Loan Agreement Package: Unlike the secured loan package, this package caters to loans without collateral. As there is no security involved, additional provisions may be present to ensure the borrower's creditworthiness or the inclusion of a personal guarantee agreement. — Payday Loan Agreement Package: This package is specifically designed for short-term loans, typically due on the borrower's next payday. It includes specific terms and conditions pertaining to payday loans, such as high-interest rates and shorter repayment periods. These Personal Loan Agreement Document Packages provide a comprehensive set of legal forms and contracts to facilitate smooth and transparent loan transactions in Arizona.
