Tag Archive | "borrowed"

How to Write an IOU Note

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IOU that is the abbreviation of I owe you, is actually an informal document for the acknowledgment of debts. It is normally written in the event when you are going to lend some amount of money to anyone that could be your relative, friend or anyone. You write this informal document to keep it as a proof of loan agreement and when you to get that lending amount back from the borrower by a specific time.

How to Write an IOU Note

Steps to Write an IOU Document

If you want to write an IOU and don’t know how to write it then follow the steps given below.

Specify what is being borrowed?

First of all, while writing an IOU document you should clearly highlight the object which you are lending and if it is a particular amount of money then also specify the exact amount which you have lent.

Specify the Repayment Deadline

You should specify the deadline of the loan repayment in that IOU document.

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No Employment Check Cash Advance Loans

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Across the United States, there are thousands of people who are unemployed due to various reasons. For such people, the government provides financial programs which help them with their basic needs in the everyday life.

No Employment Check Cash Advance Loans

Cash Advance Loans

One of the programs includes the no employment check cash advance loans. This program is tailor made for those who are currently out of work and living on benefits. This loan would allow them at least to make their daily purchases with ease and reduce their short term financial issues. If you are worried about your credit score, then you need to stop worrying as credit score is not a priority for such a loan.

When you apply for a check cash advance loan, the lender would check your employment status to determine whether you would have resources to pay back the loan. For those who are unemployed and are on benefits, their disposable income would then be considered to evaluate whether they can pay the outstanding amount.

Check Cash Advance Loan from a Pawnbroker

The advantage of a pawnbroker is that you would not have to go through the difficult process of applying for an application and then waiting for the outcome. The pawnbroker would require a collateral as the means of safety. This could include any item which has financial value such jewelry, bonds, certificates etc.

How much amount you would receive after giving the collateral would depend on the internal expert who would asses the value of the collateral and then be able to decide how much loan could be provided to you. The time period would range from 30 to 45 days depending on the terms and conditions set by the pawn broker.

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Getting A Loan When You Are Jobless

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The unemployment and inflation rates have risen in each country of the world today. People with no jobs or business can hardly manage their routine life expenses. However, there is still an option for you to have money while you are jobless. That is, expert lenders could offer you secured and unsecured loans when you are jobless. People with no credit checks, i.e. bad credit customers, may also find loans.

Loans for Jobless People

Following are some ways for unemployed people to get a loan:

Doorstep Lenders for Jobless or Bad Credit Customers

People often get confused a doorstep lender with a loan shark (a person who dishonestly obtains money from others). Loan sharks are illegal and must be ignored. But doorstep lenders are lawful businesses; they are strictly regulated by consumer legislation. Simply, it is just as a local agent collects your installments once a week.

Provident Personal Credit or Greenwood Personal Credit provides unsecured cash loans. Borrowers interested in unsecured loans are welcomed when they can assure that their repayments are affordable.

Interest-Free and Low Rate Family Loans

Perhaps the best loan option for jobless people is family loan scheme. For this, you would have to start from your own family. The key advantages of this loan are: there is no credit check required the interest rates are low. It means that you can extend your borrowing time period and also, they are reasonable when you have a low credit score.

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Easy Cash Advance from a Payday Loan Lender

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Most of us have observed the emergency source of money to carry on house hold or different other necessities of life are “fast cash payday loan”. It provides advance for any purpose regardless of knowing the reason, as they can ask for the reason in the submission form but it would not act as an obstacle if the reason is not genuine. It is superlative for those customers who have negative credit history as it is quick same day loan with no credit checks. Fast cash payday loan offers pledge to customers that are rejected by the banking sector. Although it should be considered as short term loan, as it can free someone from big financial problem.

Advance cash

Qualifying for an Easy Cash Advance from a Payday Loan Lender

Although instant cash today doesn’t require any credit checks, it is still essential to meet bad credit loan necessity. Purpose is the lender wants to make confirm that the application is not a deceptive one or it has been submitted by a fraud individual. The criteria for quick same day loan are as follows:

•    Person must be over 18 years of age.
•    A U.S. citizen or nationality holder.
•    One photo I.D. and two forms identification forms.
•    If you are having full time job then your monthly income must have to be over $1,000.

• A valid bank account for the transfer of money.

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How to Write an IOU (Promissory Note)

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An IOU note  also known as “Promissory Note” is a commitment in writing for paying a certain debt. It is also called a Loan Note Agreement. Others names for it also include Note Form, Loan Note etc.

Format Promissory Note are drafted by lawyers or attorney hired by banks or other financial institutions like credit card companies and car loan providers.

Legally, anyone can write his own Promissory Note and its considered a legal tender and it is binding on the person who writes it.

9 Essential Elements of Promissory Note

There are certain requirements for a promissory note to be a legally binding document. The requirements are no more than specific information about type and nature and timing of the transaction.

  1. Date of the Promissory Note should be clearly mentioned at the very top of the page.
  2. The Amount of Principal Sum or in layman’s terms the money borrowed should be mentioned both in words and numbers. (as if you are writing a check)
  3. Nature of the loan must also be clearly mentioned. for example it should be clearly stated if the loan needs to be paid on demand or at a specific date in future. Read the full story

What Is Foreclosure?

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Foreclosure is a commonly used term in which the owner’s right to property forcefully comes to an end due to his/her incapability of making principal or interest payment. These payments are done in exchange of the money borrowed or loan taken from the lender. 


Formally,  foreclosure can be defined as the legal process by which an owner’s right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.

The procedure of foreclosure differs from country to country. However, every state provides a limited amount of time to the borrower to repay the required debt in order to redeem his ownership.

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