A loan agreement is just that, a way of sucking you men into a legally binding and enforceable agreement that is totally legal in this country. Once you sign it and send it back it's a done deal and you'll start paying me back all that money you are due me in regular instalments with interest of course because if you don't the late payment reminders will be sent to your home address and if you continue to ignore them you may get a knock at the door. So the only question is how do you wish to pay?