Loans to Friends or Family
Have you ever been asked by a friend or a family member to make them a loan of
money? If so, beware!
If such a sum was intended as a loan you expect it to be repaid to you and you should
treat it as a business loan and not a gift: if you gave the money and do not expect it
to be repaid, it is a gift of money; you do not need to read the rest of this advice!
If you expect the money to be repaid, did your borrower sign a promissory note or
other loan agreement? If not you are in trouble - with the Courts – when you expect
a court to help you! Do you know what is a promissory note and its purpose?
If you want the money repaid, take legal advice NOW and before the loan is made;
call Alan – before it is too late! Without legal advice, you may never get the money
back!
If you are in doubt, and as an established client of Alan’s firm, you can call Alan
and he will discuss and resolve any such problem.
Call Alan on 0208 447 4910.
