A promissory note is an instrument that will allow for a payment or repayment of a debt. If a debt is owned it is important to get a well written promissory note. A well written note will help you in the collection process down the line, if needed.
It is one of the hardest things to defend against by a defendant.
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We recommend having the following terms within the note:
- Add all costs of collection
- Add an interest provision to include all past due interest.
- Venue & Jurisdiction provision, in the event the defendant is out of town.