How to take a loan from an individual

Often there is a situation when it is necessary to urgently borrow money, and the banks respond to the refusal or you do not suit the credit conditions, then nothing remains how to turn to a private person. Of course, a private person will not check your credit history, salary size, everything is drawn up quickly and, at first glance, without problems. But in each case there are her pitfalls.

Of course, the perfect way out is to take a loan from relatives or close people the necessary amount without any obligations and interest payments. But, as a rule, such a service is fraught with related notations and teachings, as you live further. But if there is such an opportunity, it is worth using it, even sacrificing pride and its independence.

Coming from a private person, it is necessary to clearly define the rules for the return of debt. All these questions agreed by the Civil Code (Article 42), where the procedure for obtaining, the transfer of funds is defined: the amounts of up to 1 thousand rubles may be transmitted at the oral agreement, but the loan of greater means requires written design from the notary. Of course, it all depends on the agreement between the participants of the transaction, but a large loan is still better to arrange for all the rules, it will serve as convincing evidence even in court.

The contract indicates the loan amount, the period of its payment and interest rate, as well as the procedure for returning and possible sanctions in case of violation of the terms of the contract. The term of the contract begins from the moment of means of funds, so it is important that the date is clearly indicated, and the fact of transfer was accompanied by the text in the contract: "Money in the amount (in words and digits) was transferred and obtained in full."

In addition to the benefits, the loan from a private person has a lot of negative factors, and the most significant is a high interest rate. Practice is common when the tariffs for the use of the loan are indicated for the month, and not a year, as banks are practiced. This circumstance should be remembered in drawing up the contract, because it turns out that an attractive interest rate of 10% will be a real robbing - 120% per annum.

For a large loan (more than 30 thousand rubles), borrowers require the provision of collateral - real estate, securities. Private loans are usually given for a short time - a maximum of a year, which is also important for the borrower.

Having all the "for" and "against" a loan from a private person, everyone accepts an acceptable solution. With a rather light and fast procedure for making a loan of many borrowers, high interest rates are alarmed and too short time to return a loan.