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Promissory notes must be registered with the SEC and state securities regulators. If you are considering purchasing these notes, make sure that the company you choose is registered with these agencies. If you are unsure of the registration status of the company, you can check FINRA BrokerCheck and the Better Business Bureau. There are also penalties attached to late payments. If a borrower is late with payments, the lender will issue a Demand Letter, which informs the borrower of the terms of the promissory note, including penalti... more