Small claims court
The deceased's estate acquires the power to enforce, or the responsibility to pay, the promissory note.
The note is no longer valid because it is a personal promissory note. If you want to honor it, that is your decision.
A personal promissory note ceases to be valid after the person has died. The law differs from state to state so it is best to check with the probate court or an estate attorney for details.
wording for promissory note with collateral
No....a promissory note is not valid without a consideration.
Your question answers itself. You cannot enforce a lien "against a promissory note...that does not have any collateral." Not knowing what the 3d person's connection to all this is, I can't say what effect that has on anything. The trustee, not the court, abandoned the note as not collectible. You think the trustee was wrong? Do you know something the trustee doesn't?
A promissory note is a fancy legal name for a legally phrased I.O.U.
The amount written on the face of a promissory note is called face value or principal. The date on which the promissory note is written is called the issue date.
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
She signed a promissory note as a commitment to repay the loan on time.
I needed to sign a promissory note for my student loan money.The bank is legally owed money when you sign a promissory note.The promissory note was only one page long but used complicated language.
No, the amount of the promissory note is the face vale not maturity value. Maturity value is the value of the money on the promissory note after a period of time.