I'm going to help my boyfriend to pay a car installment and debt which total RM2000 per month. In order to avoid he not paying me back and protect my right,I'm thinking to enter a simple debt agreement with him every month. My quiries are
1) do we need witness on the agreement?
2) the agreement need stampling?
3) I'm not going to charge him any interest on that, but can I add a term that if he failed to pay me, I have right to collect the debt from his immediate family?
4) should I keep the receipts as supporting documents?
5) I'm not sure and not decide yet on the date for him to pay back the debt. Can I state that I have right to request him pay me the debt at anytime when I request?
260 Views ⚫ Asked 3 Years Ago
0 had this question