Promissory Note

Why this form exists, and what it will not do

Promissory Note is for a borrower promising to repay a private lender. The moment to use it: when the money is delivered. It sits in the Money and payments group on Papero. Private notes, payment plans, and letters about income. Not a bank's own form.

Fill it in this browser. Papero does not create an account, does not upload the answers, and does not keep a copy after you close the tab. When the preview looks right, print it or download a PDF. The PDF is built on your device. A blank download leaves the lines empty so someone else can fill them by hand.

Work through the page in order. The Promise section asks for Borrower, Borrower address, Lender, Lender address, Date of this note, Principal in numbers, Principal in words, Interest, Payment schedule, Final due date, If a payment is late.

Borrower. Name. Borrower address. Mailing address. Lender. Who is to be paid. Lender address. Mailing address. Date of this note. The day it is signed. Principal in numbers. The sum.

Principal in words. The same sum, written out. Interest. "No interest" or the rate. Payment schedule. Dates and amounts. Final due date. Date. If a payment is late. The charge you agreed, or "no extra charge."

People send this back, or refuse it, for ordinary reasons. The amount in words does not match the figures. The payee is blank. You try to record this against a house. Read the finished page once as if you were the person receiving it. If a line would make you call back, fill that line.

Sign on the Borrower signature and Date line. A typed name in the signature spot is weaker than ink on a printed page. Date it the day you sign, not the day you hope the other person signs.

What this page cannot do: A private note or payment plan can be a contract between the people who sign it. It is not a court judgment and not a wage garnishment. Interest above your state's limit can spoil a note. If you are not charging interest, write "no interest" instead of leaving a blank a later reader could fill in. Banks use their own direct-deposit form when they require one. Papero is not a law firm, not a government agency, and not the office that will accept or reject the paper.

State note for your state. Promissory Note does not contain your state's required clauses, font size, language, or filing fee. Counties and cities inside your state sometimes add their own rule on top of the state. Before you rely on this for a lease, a school, a court, a bank, or an agency, compare it with the form that office publishes. If the office has no form, this template is a clear record of what you wrote and what you signed on this date.

After you print, use dark ink. Write "not applicable" on a line that does not apply, so a clerk does not treat a blank as a missing fact. Initial a correction beside the line. Do not cover a dollar amount with correction fluid. Each person who has a signature line signs their own name. One person cannot sign for another unless a statutory power of attorney, on the form that office accepts, already says so. Give the other party a copy the same day. On your copy, note the date and whether you handed it over, mailed it, or uploaded it to their portal. Attach copies of supporting papers, not your only original, unless the office demanded the original. Do not attach a Social Security card, a passport image, or a bank statement unless the recipient told you to, and then only in person or through their secure portal. Email is a common way those images are stolen. If the recipient is a government office, stop and use the form on that office's own site. Papero does not transmit this page, does not notarize it, and does not store it.

Keep a copy. Give the other party a copy. If you later change a fact, fill the form again and date the new copy. Do not scribble a second story into the margin of a page someone already signed. Write the date you handed it over, and how, on your own copy.

Before you rely on it

• The amount in words does not match the figures.
• The payee is blank.
• You try to record this against a house.

A private note or payment plan can be a contract between the people who sign it. It is not a court judgment and not a wage garnishment. Interest above your state's limit can spoil a note. If you are not charging interest, write "no interest" instead of leaving a blank a later reader could fill in. Banks use their own direct-deposit form when they require one.

How to fill and print it

1. Fill the lines. Type into the Promissory Note in this browser. Write "not applicable" on a line that does not apply. What you type stays in this tab and is not uploaded.
2. Check the preview. The boxed preview is the page that prints. Read it once as the person who will receive the paper.
3. Print or download. Use Print, or download a filled PDF or a blank PDF. The file is built on your device.

More Money and payments forms

• Debt Payment Agreement
• Debt Acknowledgment
• Payment Plan Agreement

Questions