There are several ways to sell a promissory paper. Find a promissory note buyers online or in your local yellow page. Be prepared to give the requested documents before you contact these companies. These documents typically include the mortgage or trust document, the closing statement, the note and the Social Security numbers of the person who will be making the payments.
Promissory Notes are reviewed by regulators
Promissory note is a form or consumer credit agreement. It is a legal document that a seller executes on behalf of a buyer. A seller can give this contract to a credit company. This allows the credit agency to take the note without any buyer claims. Buyers are only allowed to sue if they can show that the credit agency acted in bad faith or that they had actual notice about the seller’s misconduct.