Debts and Credit Legal Questions and Answers
Can a creditor report a promissory note on a ballon payment as bad debt?
We sent a promissory note and tender of payment with a balloon payment at a future date. Can a creditor report this to credit agencies as a bad debt? If not what recouse do we have to restore our credit?
04/29/2009 | Category: Debts and Cr... » Promissory N... | State: ALL | #16402Can my personal lender now require I pay the default rate of interest?
A residential mortgage note was signed in November of 1998 for a primary residential loan. The terms were $131,000, 8% fixed rate with a amortization of 15 years. The note had a 'call' in 24 months with the balance due. The lien holder (individual not institutional lender) has never excised his legal right by calling the note due or charging the 18% default rate. He never sen...
04/28/2009 | Category: Debts and Cr... » Promissory N... | State: ALL | #16348Is there a statute of limitations to collect for repayment of a loan?
I loaned a friend $15,000 five and a half yrs ago with repayments to commence September of 2006 at a min of $250/month. She paid back a total of $2500 from September of 2006 thru March of 2007 then stopped due to financial problems. Can I sue her even tho the original loan is more than the 4 years statute of limitations when repayment is only 11 months lapsed?
04/28/2009 | Category: Debts and Cr... » Promissory N... | State: ALL | #16317I have a Promissory Note and believe my property is being sold to pay it off
I have a promissory note with an investment company in California and I opted for a 6 month payment penalty for early redemption. They replied that the segregated security regarding my investment has been submitted for sale and the proceeds awaited. What does this mean please?
04/28/2009 | Category: Debts and Cr... » Promissory N... | State: California | #16301What goes in the first blank of a promissory Note?
The first line of a guaranty promissory note it states.'IN CONSIDERATION of and in order to induce ________ to enter into those certain Promissory note, copies of which are attached hereto and made a part hereof for all purposes. WHAT GOES IN THE FIRST BLANK?
04/27/2009 | Category: Debts and Cr... » Promissory N... | State: ALL | #16160What type of form is needed to secure money loaned by a contractor for a homeowner's project?
A contractor agrees to provide self funding for a project that will cost the homeowner $20,000 with a $7,000 deposit. The builder will finance, out of his pocket, the remaining $13,000 over a period of 6 years. What protection can the builder have that the homeowner will not sell the house and skip town without paying the balance due? A lien in Pennsylvania must be executed u...
04/20/2009 | Category: Debts and Cr... » Promissory N... | State: Pennsylvania | #16054What type of promissory note is needed and should it be notarized to secure money loaned?
My daughter who lives in Wyoming is in the process of getting a divorce. I loaned her $7,000.00 to help her 'get on her feet' and $12,000.00 to buy a car. She titled the car in my name using her Wyoming address. Her divorce will soon be final and I want to transfer the Wyoming car title to her showing me as the lien holder at my Texas address along with a promissory note for th...
04/13/2009 | Category: Debts and Cr... » Promissory N... | State: Texas | #15976How do I legally encumber the equity in a property for the benefit of the private party lender?
I live in MD and own a property in CA. The CA property has a private party loan against it, with a 'Promissory Note Secured by Deed of Trust'. A 'Short Form Deed of Trust and Assignment of Rents' is recorded. The promissory note itself is not recorded. (I don't believe it is required to be) Recently, the terms of the promissory note have changed, so I want to draft an addendum....
04/13/2009 | Category: Debts and Cr... » Promissory N... | State: Maryland | #15974What form do I need for Sale of Vehicle in Alabama?
What forms and bank accounts would I need if I had a customer who wanted to buy a car from me and used part of their tax refund as down payment?
04/04/2009 | Category: Debts and Cr... » Promissory N... | State: Alabama | #15876How do I file a lawsuit for default of promissory note?
After I notify borrower of default on promissory note, I want to file in court. Please send me information on how to file this claim myself? Total owed is $32,000.00.
03/16/2009 | Category: Debts and Cr... » Promissory N... | State: Hawaii | #15650