Borrower Tips
2 articles in this category
Borrower Tips
Why Borrowers Should Want a Promissory Note Too
When someone asks you to sign a promissory note before lending you money, it is easy to see it as something that benefits them. They are the ones with legal documentation of the debt. They are the ones who can take you to court if you do not pay. The note feels like it exists to protect the lender, full stop...
Borrower Tips
Can a Promissory Note Affect Your Credit Score?
When most people think about what affects their credit score, they think about credit cards, car loans, and mortgages. Promissory notes tend to fly under the radar. But depending on how a promissory note is structured and what happens with repayment, it can absolutely have an impact on your credit, or no impact at all. The difference comes down to...