How to Lend Money to Family and Friends And Get Paid Back

Official Family/Friend Loan Agreement:

Many people need a loan at some point in their life. But some might have hindrances like poor credit or other things that may affect their ability to get a formal loan, which can put people in a sticky situation: asking to borrow money from family or friends.

This very common occurrence can put two close people in a difficult position.

But there is something that can help preserve familial relations and ensure that money eventually flows back to the lender.

In this video, we’ll cover how to lend money to family and friends and get paid back, as well as a few documents that’ll help keep familial relations (and lent money) secure. Watch for more, then head to the link above for more info.

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This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our videos.

[rohitpellai]

just created one today. thanks so much for your help.

[davidicousgregorian]

Federal law states its a law to charge interest . .25% for 3 mo. loan ., more for 6 mo. .5% 1.24% for 2-4 yrs + even family w paperwork and gift up to 12000

[bryanbelcher]

Do u have to go to a lawyer to write that up ?

[Steve-fsut]

Planning to loan funds to my mother that will be payable back to me upon the sale of her home (no timetable known on home sale, could be 3 months, 3 years or 10 years+ which is fine), can a promissory note be used for this purpose when the payback time-table is unknown?

[focertain]

What if I’m lending below 14, 000?

IRS won’t tax me if interest had been charged?

[francistanedo]

How about just only verbal agreement? I can file a case against him?