Lending to a Friend or Relative – When Must You Register as a Credit Provider?
“In life, we never lose friends, we only learn who the true ones are” (Unknown) Lending money to a friend or family member in need sounds like a natural and informal sort of thing to do. But beware – if relations sour and your friend/relative can’t or won’t repay you, you may not be able […]
The Trouble with Family Loans: A R540,000 Lesson
“How sharper than a serpent’s tooth it is to have a thankless child!” (Shakespeare) “Family helps family in times of need” – that’s been part of human culture since long before the dawn of history but be sure to observe all legal formalities. A recent High Court decision provides an excellent example of the risks […]