How to lend personal money to interest legally
Lend personal and personal money? Can you? Let us understand in this article. Helping a friend or family member, or even someone who needs it, is a way to improve one’s life and not just one who needs a hand, as well as a whole community. We live in a world where competitiveness reigns, escaping from this can be a relief and make your life have a different meaning.
Often, however, you do not know the familiar loan seeker very well and need more information or deny it once and for all. But, there are people who prefer to make the release of the resources, but calls with guarantees, since they also need to keep their finances up to date and secure. Although not widely publicized, there is the possibility of releasing financial aid by charging interest even if the investor is a natural person and without ties to financial institutions.
This operation is simpler than imagined and can be done in a quiet and totally legal way. There are still many questions about this type of business and how to proceed. To assist you in this, we have selected some important information that should be analyzed before making the decision to lend money.
Is lending personal money with interest legal?
This transaction can be done very simply and quietly. The first step for those who want to lend personal and own money with interest, is to contact a good specialist lawyer. It will be necessary to create a good contract and this professional will be fundamental in this process, buy a ready on the internet and adapt according to your need. Depending on the amount of the loan, both the beneficiary and the borrower must declare the loan to the Income tax.
The investor should be aware, since, if interest is collected, there will be an incidence of Income Tax on the profit of this operation. In the contract, must be all the conditions of the loan. It is important that it is done in the best way for both parties. It is perfectly legal to borrow from an individual with interest, as long as he is not abusive.
Above the amount determined by law, the negotiation can be considered a moneylender, which is a crime. The individual loan is also determined and governed by law as the other types of credit supply and transactions. In the case of the individual loan the legislation governing these transactions is Article 586 to 591 of the Civil Code. Before lending money with your CPF give a good study in this article.
How much do I charge interest?
Collection is an important point for anyone who is deciding how to make money available to an acquaintance. You need to be aware when deciding to charge interest rates.
The legislation does not allow you to cover more than 12% a year, which would amount to 1% a month. This amount is valid for any type of loan, be it in banks and financial or personal. Anyone who covers an amount above this can be assessed for a loan, which is the loan of money at interest above the legal rate, which is a crime.
The experts believe that the ideal and the most reasonable is to charge the amount you would receive if you left the money invested in a financial institution, a savings, for example. If the loan is risky, you can still increase this amount a little to make a profit.
Remember that it is a crime against the Popular Economy to charge interest, commissions or percentage discounts, on debts in cash, higher than the rate allowed by law; charge premium higher than the official exchange rate, on amount exchanged for foreign currency; or lent under a pledge that is exclusive to an official credit institution.
Do everything legally, cover fair value, help someone and invest in the best way possible.
Risks and opportunities to lend personal money with interest
Many business owners and experts believe that this can be a very lucrative transaction. The profitability may be higher than that of other investments, depending on who receives the benefit, the return on your loan is secure.
A way of lending money to interest for people and friends and the loan and financing peer to peer lending, read the article, if you want to access here and know everything about P2P.
There are risks of you lending personal money and falling into the fine mesh if not declaring correctly, especially if there is disagreement between you and your beneficiary also does not make this statement correctly.
As there is proximity between the parties, there is a risk of non-payment of the loan. With a good contract everything can be solved. Help those around you without harming yourself, it’s fully possible. This is the best investment for you and for the country.