Free Essential Tools For Making Loans To Friends And Family THAT Make A Good Return

…what do all banks require to see before then lend money?

…a credit report of course!

…if you are in the United States, one great tool is knowing where to send your loan prospect to get their free annual credit report…

…have them pull it and give you a copy…

…you need this to know if they are credit worthy or not…

…on a credit report, there are many lines with banks that they have borrowed money from…such as credit cards, student loans, car loans, mortgages…

…so what you do is look at each line, and make sure that they pay their debt on time…

…if you don’t understand how to read the credit report, you can look on the website for the credit report for information on how to read them…

…or just google or youtube a search for people explaining how to read credit reports…

…it’s important that you understand the credit report…

…if you see that they are not paying on time…

…then find out why, and decide if it is wise to lend to them…

…because if they don’t pay on time, then they won’t pay you on time…

Click Here to Learn More About Free Credit Reports

…now that you know that your friend or family member is credit worthy, you can now loan them money….

…so how do you know what their monthly payment will be and how much interest you will make?

…that’s where you use an online payment schedule maker…

…these are free tools that help you organize what the payments will be every month, and how long they will have to pay…

…it’s good to print it out, and you can make your payment contract on that schedule if you want…

…just have both parties sign and agree to the terms of the loan, on who is paying back who, and that it will be paid according to the schedule…

…be sure to put in information on penalty and interest if they pay late…

Click Here to Learn More About Free Online Payment (Amorization) Schedule Makers