It describes the need for signed agreements and the power that these simple documents can have. If you sue the borrower and get a court order, you can take steps to enforce the judgment. These can help you get back the money you are owed. For example, I guess the reader`s daughter will say that the money was a gift rather than a loan. Be prepared for the possibility of not getting the money back. That way, if you do, it will look like a bonus. They can charge them interest to reduce this loss. Otherwise, you`re basically paying to lend them money. You have the option to demand guarantees in exchange for your loan.

If you want to do this, you need to make sure to insert sections that answer this question. Normally, a court thinks you expect a refund and you don`t give the money away. But things get more complicated when the money goes to a family member. If you clarify the conditions from the beginning, you can avoid problems on the other line. It can be hard to see someone who is important to you, who is fighting financially. monthly payments due on request, a flat rate, etc.) and information about authorized payment methods (for example. B cash, credit card, payment instructions, bank transfer, direct debits, etc.). You must contain exactly what you accept as a means of payment, so that there are no questions about the authorized payment methods. If they don`t have a lot of money and are already struggling to pay their bills, another credit may not be the best. .