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2008-06-14 03:24:01
2008-06-14 03:24:01

In brief, you could be taken to court, and/or have collection agency problems having a negative affect on your credit report.


Related Questions

The deceased's estate acquires the power to enforce, or the responsibility to pay, the promissory note.

The note becomes a part of the bankrupt individuals assets.

wording for promissory note with collateral

No....a promissory note is not valid without a consideration.

Generally, if a promissory note is not signed, it is not enforceable. The statute of frauds may also make the promissory note unenforceable.

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.

Real property can only be encumbered by a mortgage and not by a promissory note. A promissory note has no effect on real property it is only evidence of a loan. If the mortgagee acquires title to the mortgaged property the title merges and the mortgage is extinguished.

No. Without both signatures, the promissory note is not legal. As the other party is deceased, there is no way to collect that signature to make the note valid.

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.

I have the promissory note to my house.

A promissory note is a promise to pay. The most common parts of a promissory note include the lender's name, the borrower's name, the amount of money, and the due date.

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.

difference between bill of exchange and promissory note?

A secured promissory note has collateral attached - usually an item/items of value or a deposit. If the note is not fulfilled, the creditor can seize the collateral as payment. An unsecured note has no collateral attached.

One is able to find a free promissory note template both online at promissory note template website, and on Microsoft where there is a program dedicated to letter and note making.

The ECSI website has lots of the promissory notes. The ECSI website also has the template which will help in the writing of the promissory note.

A "Promissory Note" is a legal IOU. 'Presentment' of it, means that you (or someone) is cashing it in, and wants to be paid.

The most important signature on a promissory note is the borrower. Many are also signed by the lender.

Please see the resource center at for all of your promissory note questions.

No. An unsigned promissory note has no legal value whatsoever.

A promissory note (which is usually referred to simply as a note) is a written promise to pay a specific sum at a definite future date.

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