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If you plan on getting the full amount back that you loaned out.. Yes it has to be in writing

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Q: Does a personal loan have to be in writing?
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Related questions

Suing someone if they failed to pay for a personal loan that was in my name?

It will be easy to sue them if you had it in writing that they were responsible for the loan. If not, it will be difficult to prove since the loan is in your name.


Is their a statute of limitation to file a law suit for a personal loan in California?

A personal loan is typically in writing or secured by a promissory note. In California the limitation would be four years. If it is oral, it is only two years.


What is the highest interest that can charged for a personal loan in California?

For California the usury limit for personal loans is 10%.. and anything greater should only be verbal as not to get caught up, but if it is in writing then it would be against the law and considered loan sharking.


What is a Post Office personal loan?

A Post Office personal loan is a competitive personal loan with various amounts. One can ask for a Post Office personal loan for different periods of time.


Pay a personal loan off with a credit card?

All you can know about personal loan from this site. http://personal-loan-info.freehostia.com/ It will help you a lot as it helped me.


How do you find the payoff balance on a personal loan?

How do you find the payoff balance on a personal loan?


In general would interest rates for a personal loan be lower or high than those for a business loan?

In general the interest rates for a personal loan would be higher than for a business loan. The risk of losing money with business loan is not as high as with personal loan.


Who do you contact when scammed on loan?

Personal loan for foreclosure


Which bank provid Personal Loan in Pune - Interest Rate Starts at 10.75?

iServefinancial provide you personal loan in pune. And also provide online personal loan in pune


Are four wheelers under auto loan or personal loan?

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Can you get a personal loan attached to a new home loan?

If you have equity, you can get an equity loan


What is the main difference between a commercial loan company and a personal loan company?

The main difference is that only a business can receive a commercial loan, and only an individual can receive a personal loan. Also, a commercial loan can only be used for business purposes, while a personal loan can be used for anything.