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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22826
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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I wish to loan a friend a sum of money, i'm ok to do this, I

Customer Question

I wish to loan a friend a sum of money, i'm ok to do this, I unsure how to get the loan documented so it has some standing, do I need a lawyer to do this?
JA: Has anything been filed or reported?
Customer: No
JA: Anything else you want the lawyer to know before I connect you?
Customer: what does something like this cost?
JA: You just pay a $5 deposit now and the rest only when you get a reply from the lawyer. All of this is 100% satisfaction guaranteed, so you can get a refund if you're not happy for any reason.
Customer: ok
Submitted: 8 months ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 8 months ago.

This can depend on the amount and whether you have security for the loan. An oral agreement may work if the loan is small and you trust your friend. But you can draw up a brief loan agreement which sets out the loan, the interest and the due date and any dates for instalments. Or if this is something where security is needed you can register a Personal Security against his car or assets, or get an agreement to mortgage if he owns land and get a caveat to support the loan. So for the last two options you should use a lawyer. Let me know some more details and i can suggest which is best for you

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