Protection When Borrowing Money from a Friend or Relative (2024)

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What you should know Protect yourself Work out the problem Who can help Reviewed for legal accuracy by Related On Dial-A-Law

HomeConsumer + MoneyMoney & debtBorrowing moneyBorrowing money from a friend or relative

Protection When Borrowing Money from a Friend or Relative (1)

Turning to a friend or family member for a loan can be an attractive option when you need money. But there are risks. Learn how to prevent problems — and what to do if problems arise.

What you should know

Protect yourself

Work out the problem

Who can help

  • This information applies to British Columbia, Canada
  • Reviewed for legal accuracy in December 2019
  • Time to read: 5 minutes
See Also
Borrow | MyMoney.govRepayment: Definition and How It Works With Different LoansWhen Does Borrowing Become Stealing in the Eyes of the Law?When Is Borrowing Considered Stealing? | Law Office of Michael Mirer, P.A.

Reviewed for legal accuracy by

Mario Garcia, CarbonCure Technologies

Protection When Borrowing Money from a Friend or Relative (2)

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This information from People’s Law School explains in a general way the law that applies in British Columbia, Canada. The information is not intended as legal advice. See our disclaimer.

Related

On Dial-A-Law

Dial-A-Law has more information on Borrowing money in the section on Money & debt.

Protection When Borrowing Money from a Friend or Relative (2024)
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