How can you give a loan to a relative in a legal way?

 My cousin sister is knee-deep in debt. She does not have money to pay back her creditors. She came to my house yesterday and asked me to give her a loan. The loan amount is around $4500. I can afford to lend money to her. But I want to do it in a legal way. Can I draw up a contract by an attorney? Is it the only legal way to help my financially stressed sister? I want to help her out. But I just don't want to lose my hard earned money. Some of my friends are telling me that it is not a good idea to lend her money. Is it really a bad idea to help my sister get out of debts? Thanks for any information.

Solution

Your friends have done their duty by warning you against lending money to your sister. There are myriads of reasons why you should not lend money to her. First of all, if she is going through debt problems, then why is she is not taking advantage of debt plans to resolve the matter? She can easily make a comparative study of the debt plans and select the one that can help her to clear dues faster.

Secondly, your cousin sister could have easily gone to a financial institution and apply for a loan. But she has chosen to not do that. There may be 2 possible reasons behind her decision:

1. The financial institution may charge high interest rate on the loan
2. The financial institution simply reject her loan application




If is she has asked for your help for the second reason, then you are less likely to get back your money. There is another big reason why you should not lend money to your sister. You'll put your family relation at stake by lending her money. If she does not pay back the loan, you'll be compelled to ask about the payment. Her family may tell every body that you are a cold blooded and merciless man, who does not care about his sister. Worse, her family members may tell you to forget the loan completely.

Anyway, there are several ways to lend money to your cousin sister in a legal way. You can make a written agreement with your sister. If she fails to repay the loan, then you won't be liable to pay gift tax to IRS.

Next you can consult a lawyer and ask him to draw up a contract. Make sure the terms and conditions of the loan are properly stated in the contract. Go through the content of the contract before signing it.

If you can't afford an attorney, then you can get help from different lending websites. These websites can help you draw up a contract/agreement for a fee. They will make the agreement as per your requirements. Explain the terms of the loan to your sister clearly.

You should be practical while lending money to your sister. Make sure you tell your sister about the steps you'll be forced to take if she doesn't pay you back. You can also ask her to pledge collateral against the loan. 

Finally, if she can't pledge collateral against the loan, then inform her that you'll be forced file a lawsuit in the event of loan default. This will make her serious about repaying the loan.

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Is Debt Settlement For Everyone?

Regardless of how a person gets into a situation where they are facing financial hardship and need assistance with their debts, one thing is common when reaching this point: A feeling of stress and of being overwhelmed. What ever the reasons, if a person does reach this point, it's time to seek help!
There are a variety of options available for those needing assistance with their debt and each individual needs to decide which one is right for them but in a majority of cases debt settlement , also called debt negotiation, is typically the best option. Other options include debt consolidation and bankruptcy.
What Is Debt Settlement?
To clarify, debt settlement is the process of negotiating with creditors to agree on a total amount they will accept in lieu of the amount the consumer actually owes. These negotiations are usually handled by a debt settlement law firm. Typically debts are reduced to around 15 to 75 cents per dollar owed and paid in a lump sum. The consumer makes a monthly payment that is deposited in an account administered by the firm handling the settlement and held until the full amount owed is accumulated. Once reaching the goal, the creditors are then paid off in lump sum for the total amount agreed on.
What Makes A Person A Good Candidate for Debt Settlement?
There are a number of factors that need to be taken into consideration but most importantly, debt negotiation is not for those who are simply trying to avoid paying for purchases charged on their credit cards. It is for those who truly cannot afford to make their existing monthly payments but are willing to work with their creditors through a well planned debt settlement program and have a sincere desire to pay their bills. Credit card issuers are usually willing to work with debt settlement companies on behalf of consumers who are in a hardship situation. They prefer to recover at least a portion of the debt rather than nothing at all but this varies from one lender to the next so it is best to seek the services of a debt settlement law firm with a proven track record.


In most cases, debt negotiation is a last resort if you can't meet all of your monthly obligations. Once a consumer makes the decision to hire a debt settlement company or firm to negotiate with creditors on debts, it is important to remember that this will have not have a positive impact on their credit rating. Consumers going through this process also need to exercise financial discipline and not open any new accounts while paying off the negotiated debt. Once the debt settlement plan is completed, rebuilding a good credit history can begin again.
It is important to remember that even after an agreement has been reached with creditors they will continue to charge interest on the balances until they are paid off so it is crucial to keep the duration of the repayment period as short as possible.

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The Business Debt Collection Benefit

Why should I consider utilizing collection agency services?

Before using the services of an agency, think about the pros and cons. Your vested interest in collecting the debt supposed to be paid to your company may cause you to overlook issues that are more urgent in matter. A third party who specializes in business debt collection may be the solution. An outside agency whose work specializes in debt collection understands the collection laws. And since this is the nature of their business, they've got more experience dealing with stubborn borrowers.

What are the advantages of passing over the work to the agency?

Bear in mind that an outside agency may have more resources to reach your debtors. After all, that's what their enterprise has specifically been set up for. These people will negotiate hard so that you can receive the money owed to you back. Normally, agencies begin by delivering letters to your debtors. Some cases, however, demand that the borrowers be contacted via telephone call or even a private visit. A third party has the means to execute what has to be done. As much as lawyers are concerned, you will only need to pay for legal action when it's necessary. Agencies will first try to negotiate a plan that will be right for you, them, and the borrowers.


Assuming you have arrived at the decision of employing a business debt collection group to take care of your borrowers for you, there are several things to remember. First, you should figure out the extent to which the collection agency service will go to make sure your debt gets paid. Find out about the resources that the agency could exhaust to get your debtors and ensure that they pay.

Another important thing to consider is transparency. Be sure that the agency of your choice is able to provide you with up to the minute updates of what is going on. Even though it is vital that debt is collected, be sure that the agency is flexible and willing to negotiate with your debtors. Scare tactics are an unproductive way to get debtors to pay the money they owe. Unless you're dealing with professional debtors, try to keep in mind that people will pay if they have the ability to.

Business debt collection is essential. While you might just let things slide, you also have to bear in mind that a steady cash flow is the key to the success of your business. It's up to you to decide which strategies you'll use to ensure the success of your business. Working with an outside collection agency service might be in the best interest of your business.

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How Social credit can help to remove debt, poverty and hunger

Nowadays we have been witnessing that the world economy is going through rough patches. The world is indeed bleeding in debt. There are various reasons behind it and we have to cater them in such a manner that they should bring positive results to the World economy. Until and unless the economy of the World will not stand tall against debt crisis we will not be able to improve the life of people around the World who are living in deficits.
Today, the situation is so immense that people are starving hard to survive and hence living a poor and deprived life Worldwide. You may not feel the intensity of the situation but if this situation continues for a long time and is not addressed well it will bring hazardous results. Today due to this situation the World economy has become immensely fragile where a small crack can lead to disaster and we have various eye opening examples like US debt crisis and European debt crisis.


The biggest reason behind this is the current world banking system. To understand this we have to take an insight on how banks create money? Bank creates money as debt and do not create the interest part and there is not enough money in the world by which we can cover the combined debt with interest. This situation further lead to borrowing extra money because economies around the World need more money to maintain a healthy economy and this is where we experience the situation of World debt. Economies around the world become unstable due to this situation. This debt crisis situation is very dangerous for the various developed and developing economies of the world as this situation can completely collapse even the strongest economies at any given time.
One thing that can turn around the tables for global economy is the Social credit. It is a simple yet effective thing which has the capability to provide both strength and stability to the global economy and can help to remove debt. Citizens are the true share holders of any country and Social credit helps economies to deliver the true wealth of a nation to its people i.e. citizens. It is an effective way of creating a debt free World. With the help of it countries which are fighting hard to erode debt, hunger and economic instability can strengthen their economy and can create a sound base for the growth of their people.
It can even help economies to release themselves from the everlasting debt or debt crisis.
Economic crisis not only leads to instability but also leads to reduced employment opportunities, inflation, lower living standard, lesser purchasing power etc. The biggest drastic consequences of economic crisis are poverty and starvation because of which thousands of people die every year which is very unfortunate on humanity grounds.
We really have to make serious efforts toremove debt threats from the World so that we can have a sound World economy free from dearth, hunger, debt and  lets the people of every country prospers and grow in every aspect.

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Law firms provide best of turkish lawyer for your service

The Turkish law is executed and protected by several turkish law firm which provides a group of highly qualified and well experienced turkish lawyer and associates. These dynamic, independent Turkish law firms offer their services for both national and international organizations, businesses, and even individuals. Their team of expert lawyers is quite capable of giving legal advice for different fields like the European law, inter alia, contract law, commercial law, company law or real estate law. They can also furnish valuable expertise for investment and taxation matters.
Such turkish law firm do not necessarily operate within Turkey and offers a huge range of language preferences for their clients so that they can choose any language they are comfortable with starting from Turkish, English, French, Arabic, German and Dutch as well. The turkish lawyer is highly accepted and appreciated all over the world for his knowledge, expertise and experience.  
Most of the turkish law firm has an unparallel grasp on understanding its client's expectations and aims and take a commercial approach to meet their goals. The legal firms in Turkey combine a serious apprehension of the business angles and various opportunities available. A professional turkish lawyer will help the client's business grow and open new opportunities for him. By regular practice as well as jurisdiction, these Turkish lawyers work efficiently to provide each and every client with the best of legal services. The joint effort and experience of these attorneys come together in making a case successful and in bringing the client the expected result...


The internet is the most ideal place to look for a professional turkish law firm. Though there are many of such legal firms in Turkey, but it is advised that one goes through their independent website thoroughly before finalizing any one of them. The service provided by these law firms should be evaluated by the clients first to know whether they will be able to get proper legal advice from that firm or not.
It is very important to check for the fees charged by these law firms in Turkey. The law firms generally provide with an estimate of their charges after learning every pros and cons of the case and thus before taking up the case. The clients can take a fair decision by comparing the various estimations provided by different Turkish law firms to make sure that their purpose is served with the best of ability at the most reasonable price.
The Turkish law is executed and protected by several turkish law firm which provides a group of highly qualified and well experienced turkish lawyer and associates. These dynamic, independent Turkish law firms offer their services for both national and international organizations, businesses, and even individuals. Their team of expert lawyers is quite capable of giving legal advice for different fields like the European law, inter alia, contract law, commercial law, company law or real estate law. They can also furnish valuable expertise for investment and taxation matters.
Such turkish law firm do not necessarily operate within Turkey and offers a huge range of language preferences for their clients so that they can choose any language they are comfortable with starting from Turkish, English, French, Arabic, German and Dutch as well. The turkish lawyer is highly accepted and appreciated all over the world for his knowledge, expertise and experience.  
Most of the turkish law firm has an unparallel grasp on understanding its client's expectations and aims and take a commercial approach to meet their goals. The legal firms in Turkey combine a serious apprehension of the business angles and various opportunities available. A professional turkish lawyer will help the client's business grow and open new opportunities for him. By regular practice as well as jurisdiction, these Turkish lawyers work efficiently to provide each and every client with the best of legal services. The joint effort and experience of these attorneys come together in making a case successful and in bringing the client the expected result.
The internet is the most ideal place to look for a professional turkish law firm. Though there are many of such legal firms in Turkey, but it is advised that one goes through their independent website thoroughly before finalizing any one of them. The service provided by these law firms should be evaluated by the clients first to know whether they will be able to get proper legal advice from that firm or not.
It is very important to check for the fees charged by these law firms in Turkey. The law firms generally provide with an estimate of their charges after learning every pros and cons of the case and thus before taking up the case. The clients can take a fair decision by comparing the various estimations provided by different Turkish law firms to make sure that their purpose is served with the best of ability at the most reasonable price.

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Engage a Debt Collection Agency to Handle Your Unpaid Accounts

Commercial collection is a standard portion of business. When your business provides goods and services to clients, you will have to charge a fee they will have to pay you for. Then again, only a few customers are prompt with regards to paying. In case your enterprise has difficulty in getting consumers to pay whatever they are obligated to pay you, consider getting the assistance of a debt collection agency.

The United States has several guidelines protecting the legal rights of both businesses and people relating to debt    processes. You could have a difficult time collecting since certain legal guidelines permits customers not to yield a payment at all. If you're not familiar with these laws and regulations, you might end up making a blunder that can land you in court. Getting the assistance of a commercial collection firm enables you to obtain whatever your customers owe in a legal and efficient way.

Gathering cash payment is easy and uncomplicated, but these days, organizations go for much easier options. A client may give you a check or pay you by means of wire transfer. These modes of payment make it challenging for one to collect settlement from different clients since they may have many concerns that will hold up the payment. Competent collectors can confer with your clients over the cause of their delayed payment and come up with strategies to handle their difficulties so they can furnish you with what's due.


A debt collection agency provides their assistance to you for commission. They're not going to ask for an up-front payment before they start investigating your overdue accounts and talk to your clientele as your representative. That means you could talk to them and acquire their expert services prior to when you have to pay a service charge. What they call for is a part of the total they are going to acquire from all your borrowers. They can get an average of 20%-30% from the total amount they will pick up from your own clients. This amount can go up to 50% if it's an older debt with less probability of being paid.

Talk to several collectors prior to getting their particular service. They are going to assess your position and explain to you just how big your odds are of settling the unpaid accounts. Choose a company which has experience in managing the sort of arrangement you might have with your client. You cannot assume all unsettled account cases are the same. Aside from doing research and depending on referrals, you could ask your debt collectors about their knowledge in handling a case just like yours. Seeing different agencies prior to making a decision also helps you choose the best firm with the lowest commission rate.

Debt collection laws and procedures differ in every state, so be sure the firm you hire possesses a license where you live. You're appointing them due to their knowledge of legislation, and no matter how effective they are as collectors, if they're not licensed where you live, they might go wrong which could cost your company and hold you legally responsible.

Hiring a debt collection agency to take care of your unsettled accounts helps save time and manpower. By getting their services, you could get your due income properly without experiencing a difficult time yourself.

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Commercial Collection Services - A Complete Look At the Benefits They can Give To Any Organization

If there is one thing the credit crunch stabilized, it is almost certainly business collection services. Commercial collection services grew to become one of the handful of surviving industries for the duration of monetarily difficult times. They're the ones  needed by numerous companies to help restore past due repayments. As the world economical climate is gradually attaining a stablizing level, a sensible enterprise proprietor should think about employing these corporations to get back what is justifiably expected.

 So what can commercial collection services signify for my company?

Commercial collection services are sensible options that supply ease of convenience and a range of payment choices. Apart from these, it also helps proprietors concentrate completely on corporation operations without having to worry about the small stuff.

If a company collects unpaid bad debts on its own, it expends treasured time and resources to accomplish this aim. Even if you're in a position to acquire the whole amount, the effort to make this take place possibly diminished. In a few situations, a paid out debt may have already reduced depending on the existing marketplace values. When this takes place, your company confronts a break-even scenario or winds up on the losing end entirely.

Choosing a group company is like receiving certified help that could save you on important enterprise time and resources. The company you engage will handle the contacting of clients as well as the sending out of emails. They will also be accountable for  talking with clients in working out sensible repayment dates. In specific situations, they could be even asked to handle the settlement of quantities if requested by the consumer.

Will they implement ethical business collection techniques?

Numerous organizations concerned within this business maintain first rate collection techniques on their own. If you are worried concerning this, it is best to check with your local state. Numerous of them have handed legislative guidelines concerning business practices and state government bodies will likely know which firms pass and which of them do not.

You may also ask the enterprise you happen to be considering straightaway concerning the debt concern. Many collection firms will probably be glad to lay out their strategies to put this problem to rest. It's also possible to look at online critiques and read what is being mentioned on forums to find out which firms are worth your choice when it comes to collecting unpaid financial debt.

Which business collections services need to I look at?

Expertise is often a big plus when it comes to the hiring of this kind of a enterprise. Ideally, you should work with a firm that has the necessary expertise and workforce to deliver on what they offer.

At the beginning of your selection process, try to list no less than five reputable firms according to the categories stated. While you inspect every company carefully, you need to at least narrow it right down to two possibilities later on.

Ask for a meeting with the enterprise representatives if you have questions concerning their background and techniques. At this stage, they ought to give you extensive responses to every query.  Take note of the figures and statements they refer to, since these will assist you in evaluating which company can give you the ideal advantage.

Getting into into an agreement with commercial collection services is definitely an essential concern. With that mentioned, always ask for a formal written agreement from the company if you want to know the range and limitation of their assistance. A written agreement safeguards the interests of both parties as well as their obligations to one another.

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