What if someone borrows money from you and never pays you back? Or what if you borrow some money and the lender increases the amount later? It gets problematic. Doesn’t it? This is why it is suggested to never lend or borrow money without written agreements. A loan agreement letter is a legal document that helps you record the loan agreements and their details in order to save you from possible headaches if your borrower or lender is a dishonest or otherwise forgetful person. These headaches can follow you even if you write a letter but write it inappropriately. To save…
