Timeline for Large loan at zero interest or very little interest?
Current License: CC BY-SA 3.0
13 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jun 4, 2019 at 1:11 | comment | added | RonJohn | @JohnFx legal documents let the lender adjust the terms of the loan in a very lenient manner when the borrower's wife gets hit by a bus while both children have cancer (so as to retain the relationship), while sticking it to relatives who turn out to be good-for-nothing dead beats who you don't want a relationship with anyway. | |
| Jun 4, 2019 at 1:05 | comment | added | JohnFx♦ | @RonJohn Again, I'm not worried about your legal risk. I'm saying that mixing money with family is a bad recipe. Let's say you have to use that contract to sue them for repayment or repo their property. Sure you may get it back, but at the cost of a relationship. | |
| Jun 1, 2019 at 13:17 | comment | added | RonJohn | @JohnFx but the contract makes things crystal clear, with no ambiguities, no "I thought you said...", etc. | |
| Jun 1, 2019 at 13:12 | comment | added | JohnFx♦ | @RonJohn I would disagree for the same reason. All that does is give you a vehicle to sue them. It is the relationship I'd be concerned with, not the repayment. | |
| May 31, 2019 at 13:16 | comment | added | RonJohn | @JohnFx make it a signed contract, specifying term, rate, pre-payment, penalty for non-payment, late payment, etc. I've borrowed money twice from my family like that, and it's worked like a charm. | |
| Feb 1, 2017 at 18:32 | history | edited | NL - SE listen to your users | CC BY-SA 3.0 |
added 3 characters in body; edited tags
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| Dec 24, 2016 at 3:53 | comment | added | JohnFx♦ | On a non-financial note. I wouldn't borrow or lend money from/to relatives. This is how decades long fights start in families. | |
| Dec 23, 2016 at 23:22 | history | tweeted | twitter.com/StackFinance/status/812438345922080768 | ||
| Dec 23, 2016 at 19:25 | comment | added | Joe | Note my answer; the "just over six figures" is important and you might want to be specific (or within $5000 or so specific). There's an important line at $100,000 exactly. | |
| Dec 23, 2016 at 19:17 | answer | added | Joe | timeline score: 13 | |
| Dec 23, 2016 at 18:04 | answer | added | NL - SE listen to your users | timeline score: 3 | |
| Dec 23, 2016 at 17:56 | review | First posts | |||
| Dec 23, 2016 at 18:02 | |||||
| Dec 23, 2016 at 17:55 | history | asked | kirk | CC BY-SA 3.0 |