In the event that the borrower is late in the loan, the borrower is responsible for all costs, including any attorney`s fees. Under no circumstances is the borrower always responsible for the payment of the principal and interest in case of delay. It is enough to enter the State in which the loan was contracted. While it has already been briefly mentioned, a free credit agreement template is a legal document. It must contain specific information in clear legal language. If the lender or loan decides to take legal action, a simple credit agreement must contain correct and clear information. It will make a difference if you put your argument before a judge. Any model personal credit agreement or alternative credit agreement template has « must » have information in the document. . .