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LOAN AGREEMENT – FAMILY MEMBERS


WHEN TO USE THIS DOCUMENT

 This is a Loan agreement to be used when the person lending the money (creditor) is a family member of the person who is borrowing the money (debtor).

 It is:

  • Allows for monthly repayment over an agreed period of time.
  • Allows you to charge Interest on the loan at an agreed rate.

THIS DOCUMENT CONTAINS THE FOLLOWING:

  • Lender and borrower details.
  • Loan amount.
  • Loan period.
  • Interest rate.
  • Monthly repayments.
  • What happens if a payment is not made or is late (repayment problems).

DO NOT USE THIS DOCUMENT:

  • If there is not a family relationship between the lender and the borrower.
  • If you want to have a guarantor who will guarantee repayment of the loan if the borrow fails to repay.
  • If you want to take some security because of the loan.

 

E&W

File Type: Word File

File Size : 50 kbBuy Now

Price : £29.95

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