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:
The Tennessee Personal Loan Agreement Document Package is a comprehensive set of legally binding documents used in the state of Tennessee to initiate a personal loan transaction between two parties. The package includes various forms and agreements necessary to establish the terms and conditions of the loan, ensuring a clear understanding between the lender and the borrower. Keywords: Tennessee, Personal Loan, Agreement, Document Package, legally binding, terms and conditions, lender, borrower. The Tennessee Personal Loan Agreement Document Package typically consists of the following forms: 1. Loan Agreement: This document outlines the key information such as the loan amount, interest rate, repayment terms, late payment fees, and any collateral requirements. It serves as a legally enforceable contract between the lender and the borrower, detailing the obligations and expectations of both parties. 2. Promissory Note: This note establishes the borrower's promise to repay the loan amount along with the agreed-upon interest within a specified time frame. It includes details such as the borrower's name, lender's name, loan amount, interest rate, and repayment schedule. 3. Security Agreement: If collateral is involved in the personal loan, this agreement outlines the details of the pledged asset(s) that can be seized by the lender in case of default. It ensures that the lender has a legal claim to the collateral until the loan is fully repaid. 4. Guaranty Agreement: In cases where the borrower's creditworthiness is a concern, a third party may guarantee the repayment of the loan. This agreement ensures that the guarantor will step in and assume the borrower's obligations in case of default. 5. Disclosure Statement: This document provides a clear and transparent summary of the loan terms, including the annual percentage rate (APR), finance charges, total repayment amount, and any associated fees. It aims to inform the borrower about the true cost of the loan, enabling them to make an informed decision. It's important to note that the Tennessee Personal Loan Agreement Document Package may vary based on individual requirements, loan amounts, and specific lending practices. Therefore, it is advisable for borrowers and lenders to consult legal professionals or use reliable templates to ensure compliance with the state's laws and regulations. Additional Keywords: legal professionals, compliance, templates, loan amount, interest rate, repayment schedule, default, creditworthiness, collateral, asset, fees, APR, finance charges, repayment amount.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 Tennessee Personal Loan Agreement Document Package is a comprehensive set of legally binding documents used in the state of Tennessee to initiate a personal loan transaction between two parties. The package includes various forms and agreements necessary to establish the terms and conditions of the loan, ensuring a clear understanding between the lender and the borrower. Keywords: Tennessee, Personal Loan, Agreement, Document Package, legally binding, terms and conditions, lender, borrower. The Tennessee Personal Loan Agreement Document Package typically consists of the following forms: 1. Loan Agreement: This document outlines the key information such as the loan amount, interest rate, repayment terms, late payment fees, and any collateral requirements. It serves as a legally enforceable contract between the lender and the borrower, detailing the obligations and expectations of both parties. 2. Promissory Note: This note establishes the borrower's promise to repay the loan amount along with the agreed-upon interest within a specified time frame. It includes details such as the borrower's name, lender's name, loan amount, interest rate, and repayment schedule. 3. Security Agreement: If collateral is involved in the personal loan, this agreement outlines the details of the pledged asset(s) that can be seized by the lender in case of default. It ensures that the lender has a legal claim to the collateral until the loan is fully repaid. 4. Guaranty Agreement: In cases where the borrower's creditworthiness is a concern, a third party may guarantee the repayment of the loan. This agreement ensures that the guarantor will step in and assume the borrower's obligations in case of default. 5. Disclosure Statement: This document provides a clear and transparent summary of the loan terms, including the annual percentage rate (APR), finance charges, total repayment amount, and any associated fees. It aims to inform the borrower about the true cost of the loan, enabling them to make an informed decision. It's important to note that the Tennessee Personal Loan Agreement Document Package may vary based on individual requirements, loan amounts, and specific lending practices. Therefore, it is advisable for borrowers and lenders to consult legal professionals or use reliable templates to ensure compliance with the state's laws and regulations. Additional Keywords: legal professionals, compliance, templates, loan amount, interest rate, repayment schedule, default, creditworthiness, collateral, asset, fees, APR, finance charges, repayment amount.
