What Are Promissory Note Forms?

A Promissory Note is just as it sounds - a document (a note) stating that one party promises (promissory) to pay another party back for monies he or she is going to borrow. It is a written promise to pay a certain amount of money over a specified period of time in the future. If the obligation is not put in writing, it may be very difficult to enforce the payment terms later. Also, a promissory note differs from an IOU in that the first one is a promise to pay and the second is simply an acknowledgement of them debt. Protect yourself! Get it in writing!

What Does This Kit Contain?

This kit contains the promissory note forms you need to create a complete and detailed, but easy-to-understand, Promissory Note. The note covers the following issues:

• the loan amount
• interest rate to be paid
• length of loan
• designates what exact date payments begin and end
• designates what state that laws will govern
• what the grace period is (if any,) on late payments
• what the late payment amount is
• states that the borrower will incur all legal fees if the lender needs to place the borrower for collection on any unpaid amounts
• states that the borrower will incur all legal fees if the lender needs to place the borrower for collection on any unpaid amountsstates that the note may be prepaid at any time, in whole or in part, without any penalty
• you may designate if something is being put up as security for the loan (this is an option.)
• states that the note may become due and payable at any time upon a listing of certain events (which are stated in the document)
• and much more!

This kit also includes easy-to-follow instructions.

What Is Contained In The Optional Software Disk?

The optional software disk the form that can be opened with any word processing program, such as Word, Works, Word Perfect, Notepad, Wordpad, etc. It also contains an easy-to-use Loan Calculator with Amortization Schedule software program. This calculator will compute a loan’s monthly payment amount based on the principal amount borrowed, the length of the loan and the annual interest rate. You can then print the entire report, showing the amount owed each month and the due date. It also lists the principal and interest amounts paid of each monthly payment.

Protect yourself by getting it in writing!

Press the “Add To Your Cart” button below to order this Promissory Note Forms Kit.