I lent to my friend a year ago 3 Lakhs, did not sign an agreement, he is ready to sign a contract now, it is advisable to have an appendix in the agreement that gives details on the amount of the loan in the past (1 year back). The loan amount was taken by sashing the credit card in various months for small sums up to 10K, I took out loans from my wife (4Lakhs) in 2017 and we agreed that for the next five years they will be my rental income from my old home (I am the sole owner). There is no written loan contract for this. Hello Sreekanth, I am ashish, I gave my uncle the sum of 7lakhs 50 thousand to 1.5% interest per month. We wrote a four-year deal. he didn`t even give me the amount of interest (he used to give some money for my expenses if desired) I asked him to be accurate in terms of money. I asked him to write everything down transparently and on paper. As the date of the agreement approached, I asked him to look at our account to avoid any misunderstanding about the money. He denies checking the accounts and asks me to execute another agreement because he is not able to pay the amount. In fact, he doesn`t give me a specific date when he`ll pay me back.
Propose a solution to this problem. (My concern is that if my uncle suddenly retires, the family members will not safely reimburse me).) That`s my concern and asked my uncle to make them family members to sign on the agreement (or surity), he also denies that. In fact, our agreement will be concluded on the 14th of this month. Please give a solution to my problem, I am concerned, because I only have this money for my savings. For more information, check out our article on the differences between the three most common credit forms and choose what`s right for you. Dear Sir, my mother had granted cash loans to the known person. The loans were made in good faith and with the assurance that they will be repaid when necessary and with interest. However, the insurance turned out to be a big lie and the person started to avoid all our calls.