How to collect a promissory note
Although it seems a term taken from the 50's, the promissory notes are a powerful tool to receive a pending money, without needing - in many cases - to wait for it. Its use has no other obligation to commit one of the parties to settle a debt in a certain time; which, on the one hand, allows the debtor to extend the payment and, on the other, guarantees the payment to the lender. However, many people do not use it simply because they do not know very well what to do or how to collect it . What is certain is that they are an alternative that can work for many and that is why today they are still very valid. In we help you understand what a promissory note is and how to collect it .
There are companies (and also banks ) that are dedicated to collecting promissory notes, assuming the task of paying off the outstanding debt. The first thing they do is study the case to make sure that the debtor can pay, and if the company finally accepts the note, it must be valid. They will not accept expired or expired notes.
The normal thing in any case is to hope that the proposed date to settle the debt has completed its term . In this case, the company must first talk to the debtor and request payment. In the event that the person can not pay, the company can go to a lawyer and proceed legally. Many times people who fail their payment deadlines are forced to pay more than initially established.
The data is important
The information that is put is a promissory note is very important. The word promissory note should appear as the title or main statement, as well as the full names of the issuer of the promissory note and lender, the total amount to be paid, the type of currency in which he must pay, DNI-NIE or passport, loan date, payment deadline., and signature of commitment on the part of the debtor. In many cases you can also say in which bank the account should be settled.
If any important information is missing, it may not be charged. Remember that a promissory note is a commercial document that must be done meticulously.
There is no promissory note without a deadline
All the promissory notes must have an expiration date, a commitment to pay with an expiration date, day and place. This will clearly indicate when and where it should be charged. They will not be validated on holidays, but the next business day.
Person in life
If the person who has signed the promissory note has died, the collector may contact a lawyer and thus pass the debt to their family members and they are responsible.