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Loan Agreement between friends / family
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Hi i wonder if anyone can give me some advice/guidance.
I just wondered if anyone know of anywhere i can get a credit agreement for a loan which we can both sign to agree the amount borrowed & payment terms, etc.
Also does anyone know the legalitys around interest? I read on one sight that if you don't charge interest it is classed as a gift?
Any advice welcome
Thanks
K
I just wondered if anyone know of anywhere i can get a credit agreement for a loan which we can both sign to agree the amount borrowed & payment terms, etc.
Also does anyone know the legalitys around interest? I read on one sight that if you don't charge interest it is classed as a gift?
Any advice welcome
Thanks
K
0
Comments
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I think you would have to draw up some agreement and get it witnessed by a solicitor. Not too sure though.0
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