Debt Agreement Contract printable pdf download

Debt

Debt Agreement Contract

The Lender has loaned to Borrower the

Borrower the amount of $_____ on the date of____/____/____

____. Both agree

that the loan is a debt owed by the

the Borrower and will be paid to the Lender.

Interest shall accumulate on the unpaid balance of the loan at a rate of

on the unpaid balance of the loan at a rate of _____% APR and compounded

% APR and compounded

monthly. All interest that accumulates

accumulates will be added to the balance of the unpaid loan.

loan.

The Borrower will make payments to the Lender on the

ll make payments to the Lender on the _____ day of each month and individual

individual

payments may not be anything less than $

ess than $_____.

If a payment is past due, a penalty of $

If a payment is past due, a penalty of $_____ will be added to the unpaid balance of the loan.

be added to the unpaid balance of the loan.

If a check written by Borrower “bounces”

“bounces” a charge of $_____ shall be added to the unpaid balance of

shall be added to the unpaid balance of

the loan, and all future payments will only be accepted in guaranteed funds such as cash, money order,

or certified check).

The full balance shall be paid by no later than

The full balance shall be paid by no later than ____/____/____.

If the entire balance due is not paid by

is not paid by ____/____/____, or if Borrower does not make a payment for

, or if Borrower does not make a payment for

more than thirty days after it is due, then the Lender shall be granted the ability to demand the entire

balance due and may take any legal actions that are necessary to collect the

take any legal actions that are necessary to collect the above mentioned

mentioned loan.

If there are any additional costs of collecting the said loan they shall be added to the balance of the

any additional costs of collecting the said loan they shall be added to the balance of the

amount owed by the Borrower.

If the debt goes to collection the interest rate shall increase to

to collection the interest rate shall increase to _____% APR and compounded monthly,

% APR and compounded monthly,

in addition a penalty of $_____ will also be added to the balance due.

ll also be added to the balance due.

In agreement to the above mentioned terms

In agreement to the above mentioned terms the Lender and Borrower sign below:

Lender and Borrower sign below:

Applicable Law

This contract shall be governed by the laws of the State of __________ in __________

County and any applicable Federal Law.

y and any applicable Federal Law.

__________________________________________________________

________________________________________

Date

Date____________

Date

Signature of Lender

_____________________________________________________________________Date_________

_____________________________________________________________________Date____________

Signature of Borrower

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