Hippo
Lord Hippo
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.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.