People usually borrow from friends, family members or colleagues for a variety of purposes. Especially when we are faced with a few critical financial situations in life, such as a family wedding, starting a business or building a house, or even urgent hospitalization, etc., many of us turn to friends or relatives to get financial credit instead of depending on banks or private financiers. I lent 3 Lakhs to my friend a year ago, I did not receive a signed agreement, he is ready to sign an agreement now, it is advisable to have an investment in the agreement that contains details of the amount given in the past (1 year back). The amount of credit has been increased by wiping the credit card over several months for small amounts of up to 10K of Ringgit Malaysia credit agreements generally attracted by 0.5% stamp duty however, a reduced stamp duty debt of 0.1% is available for RM credit agreements or RM credit instruments without collateral and can be repaid on request or in commission. Individual. The imposition and payment of stamp duty can be made electronically through the Stamp Assessment and Payment System (STAMPS) of the tax office. A voucher must be printed on a stamp paper and sealed and signed by a notary. A debt certificate cannot be modified or modified. These are the documents on which the Union or the central government collects stamp duty. In addition, the governments of the Länder concerned may also tax certain documents. I took out a loan against the property of Rs 62.8 Lakhs by mortgaging my apartment to help my friend and his wife found their business. The full amount was paid to them by three cheques.
He promised to repay the amount in six months, and until the full amount was repaid, he promised emIs bank by depositing checks into the bank account. After depositing four cheques, he stopped that for the last four months. No debt certificate or loan agreement was signed, as I believed the family would keep their oral promise. As a retired officer in the armed forces who receives a limited pension, I cannot repay bank EMIs. Over the past four months, I`ve even sold jewelry to pay for EMIs to prevent it from becoming a credit default. .