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Proper Legally-Binding way to issue a Loan contract?

last time i loaned a friend money.
i got fucked.

if i want to load someone money in the future.
What is the Proper Legally Binding way to issue a Loan??

something like ahving a paper drawn up
and a notary there at the time of signing
and that sort of stuff

id like some advice in drawing up a paper.
with terms of repayment interest and minimum monthly payment

are any of you guys good with the legal type stuff?




for instance
I loan out $10,000
I Expect monthly payments of $1300 back. for 10 consecutive months
for a total return of $13,000
i put up the money but "make" $3000 ish a year
payments should be in the form of 10x reoccurring Non-Cancel-able Automatic Monthly Bank Transfers.
just under a one year term. a 30%ish per year-ish profit for my pocket.


Alternatively. I was thinking of offering a longer term loan.
such as something like this



I loan out $10,000
I Expect monthly payments of $600 back. for 36 consecutive months
for a total return of $21,600
a profit total of 11,600
i put up the money. but "make" $3,600 a year in returns
a 36%ish per year-ish profit for my pocket.
payments should be in the form of 36x reoccurring Non-Cancel-able Automatic Monthly Bank Transfers.
3 years term.

“last time i loaned a friend money.
i got fucked.”

I don’t think that it’s the best idea to loan any person money as you won’t be able to require the money back in the legal way as you don’t have any document that would prove the fact that you borrowed him money

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