Disputes over loan agreements can be challenging and stressful for both lenders and borrowers. In Vermont, promissory notes are commonly used to formalize personal and business loans. However, disagreements can still arise over the terms, repayments, or other conditions. This guide explores effective strategies for navigating and resolving such disputes. Understanding the Basics What is a Promissory Note? A promissory note is a legal document that outlines the terms of a loan agreement, including the principal amount, interest rate, repayment schedule, and any other conditions agreed upon by both parties. This document serves as a formal promise from the borrower…
