- This topic has 6 replies, 5 voices, and was last updated 1 year, 3 months ago by
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HA few tips do not give the amount in cash do it online so there can be transaction details if via upi write Loan to (friends full legal name ).
You can also get a loan agreement online or a promissory note via Google it will be fairly comprehensive with terms periods penalties and jurisdiction etc. You must clearly state the terms for repayment like monthly quarterly half yearly etc period and you must enforce them.
You can also notorized said agreement and have witnesses 2 arrange all this yourself do not let your friend do it for you. Also take signed blank cheques from him.
Best of luck
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SDo not , do not and do not lend the money. Give small token amount which you are willing to loose if you don’t trust him.
Any amount remedy will not provide any if he is not Solvent. Court cases drag over 10 years and even after that there are so many loopholes which can be exploited by his lawyers.
If you trust him and he remain solvent after spending your loaned amounh then it only it make sense to use all precautions you have taken and mind you even after that it’s long and labourous effort to recover money via court procedure
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