Often here is this well-meant advice also a corresponding self-experience, which would like to spare parents as a son or daughter by just that advice. And yet, reality shows that the willingness to help friends and relatives in financial emergencies is very high. After all, no one wants to “suffer” any person who is close to Him in any way. Especially not if you as a friend in the position just that familiar people by a supposed “small gesture” to be able to help the financial support. What is there to help friends, good friends and family members with a personal loan? In the reason, of course, nothing to object. Provided you secure yourself as a private lender.
The personal loan offers advantages, but also dangers
Anyone who asks friends and / or relatives for a personal loan usually has good reasons for doing so. On the one hand, friends do not conduct a Schufa interrogation, on the other hand you are more generous in repayments and, in addition, in the very rare cases demand any interest, let alone loan collateral . In this respect, the topic “borrow cheap money” from friends from the point of view of the borrower is the optimal solution dar. Quite different situation for the donor of the personal loan. In the worst case assuming that the personal loan is not repaid as agreed, this is synonymous with the loss of money AND the perhaps very close friendship so far. What then degenerates mostly in an intensely conducted dispute and often lands in front of the judge. With the result that the judge decides for the borrower, if not by the creditor any written and thus legally binding agreements with the debtor can be presented.
A personal loan contract prevents any disputes
Which makes it clear that certain rules should apply when granting a personal loan. First and foremost, even with a loan among friends , written agreements in the form of a credit agreement should apply here. Simple model credit agreements between private individuals, which can be downloaded for free from the internet, are also sufficient here. A walk to the lawyer or notary is not absolutely necessary. Especially not when it comes to a manageable loan amount and a shorter repayment term. It is important that a credit agreement between private individuals the main points of a loan transaction are recorded. Of course, this includes the amount of the loaned sum, the payment and repayment deadline and the interest rate (if agreed). If you want to protect yourself as a private lender , because, for example, the amount of the loan amount is considerable, you should also in the contract collateral from the borrower can transfer – such as the car. This can be done by handing over the vehicle registration document to the lender. This ensures that the car can not be sold and is really available as collateral should the debtor not be able to repay the loan.
Never pay out personal loans in cash, but transfer them
Further protection should be provided to always transfer the personal loan granted and not to disburse it in cash. Even if it is said that this is only real money, it also carries risks for the lender. For example, lawyers advocate this procedure for the following reason: Anyone who states in the referral “loan” as the intended purpose can indisputably prove in the dispute that the recipient of the amount owes that money – and that it was not a donation.