Today’s article is definitely not about the signs and influence of the moon. Under the heading “How to lend money correctly,” I mean something completely different. This is about how to lend legally competently and try not to spoil the relationship with the borrower, how to get your own money back in a legal way.
There is a widespread belief that it is okay to lend to friends, family and acquaintances without legalizing the deal. Otherwise, it is indecent and somehow inconvenient. My personal opinion is that in the modern world this is a delusion that can lead to bad consequences. Afraid to ask your friend to issue a receipt because he will no longer be a friend? And who will he remain for you when he does not return the money, and you have no legal grounds to demand it? Fortunately or unfortunately, we live in a world of money. So let’s treat them respectfully, and then they will reciprocate.
Debt documenting So, I have outlined my position. If we want to maintain good relations with the people who borrowed money from us, if we want to repay the debt in full and on time, then we need to spend just a few minutes of our time on a competent conclusion of the transaction. The Civil Code provides for a procedure when you can arrange a loan between individuals by drawing up:
– Promissory note;
– Loan agreement;
– And both at the same time.
Both documents are quite simple and do not require the involvement of lawyers. But if you want to protect yourself as much as possible, then, of course, you can consult with specialists, and involve a notary with witnesses. There is an alternative option to help your friend is explain him an easy way to make money just by playing best rated online casinos. In this way he may cover his financial requirements instead of lend money.
We issue a receipt
With a loan amount up to 150 USD you can get by with a verbal agreement. But for a deal for a large amount, be sure to draw up a receipt. She will confirm that you transferred and the other person received a certain amount of money from you. Important design rules:
- The document must be written in the borrower’s own hand. Typewritten text is easy to challenge. This point can be very important if the case goes to court, and the defendant claims that he did not borrow. Handwriting examination will put everything in its place.
- You can attract witnesses who, by their signature on the document, will confirm the fact of the transfer of money. It is clear that they will not be liable for the debts of the borrower if the latter refuses to pay.
- The receipt, although it is written by hand, must contain the necessary details:
– Full name of the borrower and lender;
– passport details and registration addresses of both parties to the transaction;
– date of receipt of money and loan amount (in figures and words);
– the exact date of the debt repayment;
– additional conditions (interest, late fees);
– date of preparation of the document;
– borrower’s signature.
No one should have any questions about the deal if it comes to litigation. From the text of the receipt it should be very clear who took from whom, how much and for how long.
We draw up a loan agreement if the loan amount to a private person exceeds, then a loan agreement can be drawn up. Required in writing. To confirm that you transferred, and the other person received money from you, it is better to write a receipt as well. This is what the Civil Code advises.
A loan agreement is a legal document. It takes effect the moment money is transferred from one person to another. The receipt only confirms the loan amount, but is not a contract. Sometimes misspelled words in it can serve as a reason to deny you a claim against your debtor. Therefore, it is better to play it safe and draw up an agreement in accordance with all legal rules, especially true for a large sum of money. There are quite a few examples of loan agreements on the Internet.
This is an easy-to-draw up document that must contain the necessary details. Try to describe in detail the conditions: who, when and in what amount transferred and who, when and in what amount received the money. Pay special attention to the terms of repayment: when and in what amount the borrower must repay the loan, and what will happen if he violates the term. If you forgot to stipulate the loan term, then according to the Civil Code, the borrower must return the money within 30 days after the lender’s request. The Civil Code allows the borrower to charge interest for the use of money. The interest rate is set by the contract and can be fixed or variable depending on the conditions specified in the document.
Did not return the debt: procedure
It still happened – your money was not returned. If the term is stipulated in the contract, then on the first day of delay you can apply to the court. If the term is not specified, then first you must send a certified letter to the name of the borrower with a demand to repay the debt. He is obliged to do this within 30 days. Otherwise – the court. Important rules for filing a claim:
- Pay the state fee and attach the payment receipt to the application.
- Draw up a statement of claim in three copies: to yourself, the defendant and the court.
- Attach copies of the receipt and the loan agreement, if any, to each copy of the application.
- According to the Civil Code, you can demand to return not only the amount of the debt, but also interest in the amount of the key rate of the Central Bank, even if they did not stipulate them in the contract.
The listed measures in no way serve as a reason for you to lose a friend, quarrel with close relatives or completely ruin your relationship with a neighbor. The documents, in addition to their legal force, also have psychological effect. If the borrower knows that in the event of a violation of the terms of the contract, he will end up in court, this will greatly discipline him. And the legal aspects of him, in general, should not worry in any way if he was going to fully and promptly repay your debt. I never look askance at people who require paperwork to transfer money into debt. This is their right. They want to maintain financial stability in their family. And I respect those who, in principle, never give to anyone. I myself belong to the latter. At the same time, it is important to never borrow from anyone.