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Private loans should be aware of the following issues

1, pay attention to credibility and solvency of the borrower. To see each other's fixed assets, income, and so on, to determine whether it has the ability to repay.

2, should have the loan contract or promissory note. When borrowing, do not take into account human feelings, relationships, and other factors, be sure to allow borrowers to include contract or promissory note and clearly state the borrower, loan amount, purpose, interest rate and repayment period, breach of contract, such as content, signature stamps, each party holds one copy kept.

3, borrowing rates than bank lending rates four times more than in the same period, the law does not protect.

4, for larger amounts, shall be discharged by the borrower guarantees or collateral procedure.

5, the borrower's loan-use should be legal. Knowing that the borrower is borrowing for illegal activities, national laws will not be protected.

6, application of the law to recover debts. If the borrower does not talk about credibility, escape account default, the creditor must not take seized hostages and robbed goods such as extreme violation, to correctly use legal weapons, hire lawyers to defend their legitimate rights and interests.

7, beware of illegal fund raising private lending.

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