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Can a Loan Agreement Protect You from Non-Payment? 📜🤝 🔍 Client Question: “I’m lending money to a friend. Do I need a Loan Agreement, or is a verbal promise enough?” 🤔💵 #LoanAgreement #DebtRecovery #FinancialSecurity 💡 Answer: A verbal promise is just words—get it in writing! ✍️📜 Without a Loan Agreement , you risk losing your money with no legal proof to recover it! ⚠️💰 #LendingRisks #LegalContracts #MoneyMatters 📜 What is a Loan Agreement? A legally binding contract that outlines the loan amount, repayment terms, interest (if any), and consequences of default. It protects lenders from bad debts and ensures borrowers stick to their commitments. 💵📑 #FinancialAgreements #DebtProtection #LegalDocuments 🔑 Key Clauses in a Loan Agreement: ✅ Loan Amount & Repayment Schedule – Ensure clarity on payments! 💰📅 #DebtManagement #FinancialPlanning ✅ Interest Rate & Late Fees – Avoid misunderstandings! 📜⚠️ #LoanTerms #MoneyLaws ✅ Collateral (If Any) ...
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