A Nebraska unsecured promissory note is a document that legally commits a borrower to repay a lender a specified sum with interest without collateral for security. It records loan details, including amounts, interest, due dates, and both party’s information.
While it enables transactions without collateral, it includes options like adding a co-signer for lender protection. If a borrower defaults, the absence of collateral means the lender’s ability to recover funds is limited, despite the potential for a co-signer to take on repayment responsibilities.
