Family Loan Agreements Lending

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Posted on November 13, 2018 at 03:56 AM



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Promissory Notes for Personal Loans to Family and Friends ...
A promissory note is a written promise, basically an IOU, to pay money to someone. The note document serves as written evidence of the amount of the debt. The note document serves as written evidence of the amount of the debt.
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Lending money to a family member (or borrowing from one) might sound like a good idea: the borrower gets easy approval, and any interest paid stays in the family instead of going to a bank. In many cases, family loans are successful – but success requires a lot of open conversation and planning ...
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