How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Loren Your Own Question
Loren, Attorney
Category: Business Law
Satisfied Customers: 33457
Experience:  30 years experience representing clients .
Type Your Business Law Question Here...
Loren is online now
A new question is answered every 9 seconds

I have signed three promissary notes, dating back to 2005 and

This answer was rated:

I have signed three promissary notes, dating back to 2005 and have been regularly paying back on the agreed per/month amounts since then. The lender has agreed to forgive the balance owed. I would like him to sign a form to that effect. i. e. that I no longer owe money on those notes. Where can I get a form that he can sign?
Thank you.
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

Before we begin, a bit more detail would be helpful please.

Does the lender still have the original notes?

Are the notes current or are you in breach regarding repayment?

What is the balance being forgiven?

Thank you.

Customer: replied 4 years ago.

The lender should have the notes. I am not in breach regarding repayment, The balance is unclear, but I can figure it out. I have been paying 136.06 every month

Thank you for the additional information.

All you really need is for the lender to write on the original note "Paid" or "Released", return it to you and that would suffice.

You may use the following as a template if you would like a separate Release:

Release of Promissory Note Form

Full Names _______________________________________________


Full Names _______________________________________________

(Hereinafter referred to as the Borrower/s)

Full Names _______________________________________________

(Hereinafter referred to as the Lender)

The Lender hereby acknowledges receipt of the full payment of the Promissory Note dated ______________________20____ in the principal loan amount of __________________ Dollars ($_________) as well as receipt of full payment of any interest accrued.

The Lender therefore releases the Borrower(s) from all obligations under this Note and this release shall be binding upon the Lender’s successors, legal representatives and assigns.

The Lender warrants that the Note referenced has not been assigned, ceded, transferred or sold to a third party and warrants his/her authority as Noteholder to issue this Promissory Note Release.

Signed on this _______day of _____________________20______.



It is my privilege to assist you. Let me know if you need further information. I hope I have helped you beyond your expectations in the service I have provided to you. I am here for you.

Please remember to rate my answer when our communication is completed so I will be compensated for my time in providing you with the information you requested.

If you feel the need to provide a low rating, please stop and reply to me via the REPLY button with whatever issue or clarification you may need. I will happily answer your follow-up questions and assist you until I am able to explain the answer to your satisfaction. Please also remember that I cannot control whether the law is favorable to your situation, so please do not penalize me for having to deliver bad news.

Thank you.

Loren and other Business Law Specialists are ready to help you
Thank you for your positive rating of my service to you. Let me know if you need more help or have future questions. I will be here for you. Just ask for me by name at the start of your question - "JudgeLaw" or use the following link (which you can bookmark in your browser):

Best wishes and good luck to you.

If it is not too much trouble, when you receive a Customer Satisfaction Survey from JA/Pearl in a day or two, please do rate me highly (9 or 10). It affects my ability to continue to assist you and other customers on JA/Pearl and would be most appreciated.

Related Business Law Questions