Many say you should never lend to a friend or family member, but there are times in life when we need to break this rule. What are the rules for these loans and what is the maximum interest rate?
Aside from being very careful about lending to friends, as this can create a lot of conflicts between your best friends, you have to comply with more laws.
Want to earn interest on your money
For example, it is good to know that if you want to earn interest on your money, it can be a maximum of the central bank base rate + 24 percentage points per annum. The loan may not be interest-bearing, and the loan may be interest-free, which is why the amount to be repaid is written down, as in the event of a dispute it may be evidence of an agreement.
It’s a good idea to use cash instead of cash as there is a trace of cash movements. But if you do enter into a contract, you also have to pay off the amount due.
Get your money back even without paper
If your friend doesn’t pay on time, you can get your money back even without paper. At the notary’s office, you first have to apply for a payment order, which, after 15 days without a response, will become final and there will be a driver who will recover your money as he or she knows. You will have to pay for the cost of this process in advance, but in the end, this will be sewn around to the defaulting debtor.
If the other party disputes the debt, then the case goes to court, and the contract is most useful, since the verbal agreement is in vain and difficult to detect during the proceedings. There are several contract templates on the Internet that are worth using and signing with even two witnesses.
In practice, it may be important to calculate interest rates. For this, use an excel and a detail function within it. Its operation is described in detail here