If peeps are going to lend peeps money & do a bank transfer they should put on the notes its a loan, that way if you go to
court to recover the funds its on the statement as a loan. This is the only way to recover money from a personal transfer.
Stating its a loan on the transfer is too late. Yer need to set out the agreement on amount and repayment terms ahead of handing over the money. Both sides need to agree in advance to be safe.
 
...that I need my bumps felt.
I just covered £11k of business debt for my lad as his start-up venture is getting off the ground.
It stings a bit as the little beggar owes me 35 grand now with this added.
But, on the plus side there is potential for this to make us both a lot of money over a 5 year term.
It is my savings, but they were just sitting there earning naff-all anyway. :)
Good luck with that Dan , I had a bad experience as above but to the tune of K 100 but all sorted now or within a month with big dividends 😉
 

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