Loan Agreement Templates- loan between family members

barbarawright

Sandpiper49 wrote: »

Leaving aside the pros and cons of lending within the family, does anyone know where I can find a FREE personal loan agreement form. Every site advertisng FREE legal forms I have been on over the last hour ends up with me being asked for my credit card details. This doesn't seem FREE to me! Thanks.

Surely they can't be legal enforceable?

boo_star

barbarawright wrote: »

Surely they can't be legal enforceable?

Why not?

The interest might be unenforceable but the requirement to pay back the capital isn't.

HanSpan

Happibunni wrote: »

Found the same problem. Ended up copying a document from the net and typing out myself.

Would you be willing to tell me where you found the document to copy?

Happibunni

Can't recall which one exactly (it's been a while since it was typed). I googled "loan agreement templates"

I do remember entering all relevant info onto site until it got to the point it asked for credit card details - it was possible to view document at that point - just not to print without paying.

Sorry can't be more help.

damnjet

A year and a half on from my own loan agreement witnessed by another family member i have received little back and now bitterly resent having done so. If its a small sum that you can afford to live without then probably no worries.

Things are now turning nasty.

dealer_wins

Gift it, dont lend it.

Then if they do pay you back its nice, but if they cant/wont it doesn't matter.

Happibunni

A while ago I posted asking advice about loan templates.

Having read so many horror stories about loans going wrong and relationships souring this wasn't a decision taken lightly.

The loan offer was extended, interest free, to allow me to settle my mortgage. Repayments were worked out on the bare minimum that could be made if the SHTF. Terms were agreeable to the other party and the loan went ahead.

Today the last repayment was made (17 months before the end date on the agreement) and I find myself mortgage free 5 years early :T

I guess I wanted to post to say for me, at least, family lending worked well.