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Georgia Unsecured Installment Payment Promissory Note for Fixed Rate Georgia Form

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Georgia Unsecured Installment Payment Promissory Note for Fixed Rate Georgia Form

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have you ever heard of a promissory note it's a financial instrument that's used to document a loan agreement between two parties a promissory note is a written promise to pay a certain amount of money at a specific time it's signed by the borrower and contains the terms of the loan such as the interest rate and payment schedule but the question is is a promissory note secure a promissory note is only as secure as the borrower's ability to pay it back if the borrower defaults on the loan the lender can take legal action to recover the money but there's no guarantee that they'll be able to collect in other words there is no collateral to recover against it's important to do your due diligence when lending money and make sure that the borrower has the means to pay it back otherwise you could end up losing your investment and that's it for this one hopefully you learned something and watch the next

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