We all want to help out where we can when it comes to family but it’s important to have the right documentation in place in order to stop potential heartache and risk of default.
“Tim Dean, founder of cloud-based loan documentation (and management) service Credi, believes a simple paperwork process, which keeps both parties on their toes, is the answer. The idea of going to a lawyer to draw up an agreement would not excite most parties, Dean says, and yet documentation will remove that uneasy conversation about last month’s missing repayment. Dean’s site has a loan-builder module which, he says, can do the complicated maths and present the loan in an easily digestible package.
“Some people deal in rates, while others say: ‘I’ll lend you A$100,000; you can repay me A$101,000 back in two years’ time’. Others may want monthly repayments. The platform can handle all the different scenarios,” says Dean.”
Learn more about formalising loan agreements among friends, family & business, and how Credi makes this process quick, easy and affordable.
Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…
Tim K. DeanCredi Founder Commentator & Expert Family Lending | Bank of Mum & Dad | Neo-Credit Scores Tim K. Dean is a leading expert and commentator in the field of friends & family lending, the Bank of Mum and Dad and neo-credit scores.
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Sign up and become one of the thousands of people and business around the world using Credi to protect them selves with robust loan documentation and management today.
