James Stackpoole
James Stackpoole is a personal finance writer who covers lending, contracts, and everyday legal documents. He focuses on making complex financial topics approachable for borrowers and lenders navigating agreements outside of traditional institutions.
Articles by James Stackpoole
What to Do If You Inherit a Promissory Note
Here is what you need to know if you find yourself on the receiving end of an inherited promissory note...
Promissory Notes and the SBA: What Borrowers Need to Know
If you have applied for an SBA loan, you have probably encountered a stack of paperwork that felt overwhelming. Buried somewhere in that stack is a promissory note, and while it may look like just another form to sign, it is one of the most important documents in the entire transaction. Understanding what you are agreeing to before you sign can save you from surprises down the road...
Promissory Notes as Investments: What Private Lenders Should Know
Here is what private lenders need to understand before treating a promissory note as an investment...
How a Promissory Note Protects You When a Borrower Defaults
You did something generous. You lent money to someone who needed it, put the terms in writing, and got a signature. Now they are not paying, not returning calls, and the repayment date has come and gone. It is a frustrating situation, but it is one where having a signed promissory note makes an enormous difference in what options you have available...
Promissory Notes and Taxes: What Lenders and Borrowers Need to Know
Most people think of promissory notes as a borrowing and lending tool, which they are. But what often gets overlooked is the tax side of the equation. Whether you are the one handing over money or the one receiving it, a promissory note can have real implications come tax time. Ignoring those implications does not make them go away...
How to Collect on an Unpaid Promissory Note
You did everything right. You put the loan in writing, got it signed, and kept a copy. Now the due date has come and gone, and the borrower has gone quiet. So what do you do when someone does not pay back a promissory note?