Installment Promissory Note

    

I, {Debtor Name}, hereby swear and affirm that I will pay {Collector Name} {full amount}, with interest, at {location}.

I will pay the full amount in monthly installments of {amount} starting on {date}. The installment will be due no later than the {day} of every month. Interest will accrue at a rate of {%} per month.

Installments will continue until {time} on {date}. After that time, all remaining unpaid principal and interest will be due immediately and in full. Any principal or interest unpaid after the due date will be subject to an interest rate of {%} annually.

If I pay any monthly installment later than {#} days after the due date, I understand that I will owe {Collector Name} a late fee of {$} every day that the installment goes unpaid.

I understand that I have the right to prepay the full amount early with no penalty, fees, or additional interest. I also understand that if the amount is not paid or if I breach this contract, I will be responsible for the costs of all collection services, lawsuits, and attorney fees.

___________________ __________________

Debtor Printed Name Debtor Signature

Date:

____________________ __________________

Witness Printed Name Witness Signature

Date:

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