Life always surprises you. Sometimes these are nice surprises, such as a new love or offspring, which makes the family happiness perfect, but unfortunately there are also more nasty surprises, such as a sudden bathroom renovation or a change of apartment, which clearly break the available budget. It is a bit unfair, but often the only solution is called money, which only loans can give. A private loan is a suitable means for financing these unpredictable measures.
When to claim a personal loan?
Many people are in the situation of having financed a reasonable expense, such as a condominium or a house through a bank loan. But this is often not enough, because the above-mentioned additional expenses or similar can hit you at any time and then the banks are often no longer the flexible partner promised by advertising. This is the time to claim a personal loan.
In many cases, a relative or acquaintance can provide the appropriate funds for a few months, but even then you should draw up an appropriate loan agreement, so that the friendship is not unnecessarily burdened by financial considerations. Especially points like interest and term are then also clearly regulated.
A sample loan agreement is available online
This is one form and probably the most common form of a loan. For the loan agreement, by the way, you do not need to consult a lawyer, because on the Internet you can find many valid samples. Only a reasonable interest rate must be observed for the contract to remain valid, because a usurious interest rate of 18 or more percent can cause a court to declare the contract null and void.
For a more impersonal form of private loan, you can also consult the Internet. Platforms such as Auxmoney mediate between people who want to grant a personal loan and those who want to claim one.
The advantages are similar to those of a more personal personal loan. A private person usually waives a KSV information before granting a loan and also with the interest and the term can be negotiated more flexible than with a financial institution.
What to consider when making a loan to private?
The usury rate as an important tip we have already addressed in the previous chapter, but what else to consider if you want to make a personal loan? The most important principle is that just because you have a credit agreement does not necessarily mean you are on the safe side. It is possible to pass on a loan contract to a debt collection company if the payments are not made on time and this company can take care of a collection with several means, but the message can also come back that a judicial collection is not advisable because the debtor is in a hopelessly bitter financial situation and then the contract is only worth the paper on which it is written.
Legal aspects of granting a personal loan
Very often, the question of whether a loan is time-barred also arises. Collection agencies and lawyers often point out that claims become time-barred after 36 months, although there is also information that a loan claim only becomes time-barred after 30 years (https://www.HELP.gv.at/portal.Node/hlpd/public/content/99/page.991339.html). However, two facts can be stated quite clearly. On the one hand, specialist advice should be sought regarding the statute of limitations, and on the other hand, the statute of limitations period is extended if a partial payment has already been made. It can serve as a small safety net to let the debtor pay only a small amount of the total loan in order to be able to make legal claims on the rest later on. In many cases, the debtor of a personal loan overlooks this strategy.