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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 50191
Experience:  Qualified Solicitor
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How borrow money to family members.with a binding contract

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How borrow money to family members.with a binding contract???
Hello, my name is***** am a qualified lawyer and it is my pleasure to assist you with your question today. What is the reason for the borrowing and how much?
Customer: replied 2 years ago.
Family is in dept and wishes to borrow money from me(. My husband thinks that I will never see the money again) I am willing to help but I would like it back its a lot of money to me..I know that if any thing happens to that person,his wife will never pay me.
You can lend the money under a type of loan agreement. Whilst you do not actually need anything in writing to legally be entitled to the money and pursue it, of course backing it up with a formal document will mean there is documentary evidence of what was lent and the terms of the borrowing. For a free template of such a loan agreement, see here: You can adapt that to suit your own personal needs. I hope this has answered your query. I would be grateful if you could please take a second to leave a positive rating (3, 4 or 5 stars) as that is an important part of our process and recognises the time I have spent assisting you. If you need me to clarify anything before you go - please get back to me on here and I will assist further as best as I can. Thank you
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