How to Lend Money to Family
How to Lend Money to Family
Determine whether the family member asking for money is responsible enough to return it.
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Make sure that you have the money to spare before lending money to family.
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Discuss your expectations regarding a family loan before coming to a final decision.
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Establish a payment plan that meets the budget of both you and your family member.
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Write up a family loan contract with all the details of the loan and make it official by having you both sign it.
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