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Promissory Note
- When borrowing money from friends or family it’s smart to document the loan with a written promise called a promissory note.
- There are five basic types of repayment plans:
- lump sum without interest
- lump sum with interest
- installment payments without interest
- installment payments with interest
- installment payments with interest plus a balloon payment at the end
- You may also list something as collateral such as real estate to insure the payments.
- To prepare a promissory note, we will need the names and addresses of the borrower and the lender and details on the payment plan such as the interest rate and installment payment dates.
Fee |
| $75.00 & up |
Includes preparation of the promissory note and notaries. |
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Call us: (702) 636-HELP (4357)
WE ALWAYS RETURN PHONE CALLS |
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We are a paralegal service and cannot offer legal advice.
If you need advice, we can refer you to an attorney. |
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