Full question:
I have a promissory note with an investment company in California and I opted for a 6 month payment penalty for early redemption. They replied that the segregated security regarding my investment has been submitted for sale and the proceeds awaited. What does this mean please?
- Category: Debts and Credit
- Subcategory: Promissory Notes
- Date:
- State: California
Answer:
Your investment is secured by a specific property, which is being sold. The company is trying to sell this property to generate funds to repay your loan. Once the sale is completed, they will use the proceeds to fulfill their obligations to you.
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