Guide and FAQ
After filling in the form, read the notes below — important warnings and frequently asked questions are here.
Who is it for?
Suited to individual lenders and borrowers, and to parties wanting to document a small, private debt relationship. Usable for interest-bearing or interest-free scenarios, whether repaid in a lump sum or by installments. Commercial credit, leasing, or bank products need a corporate contract; this template is focused on personal cash debt.
Things to watch for
- Write the loan amount consistently in both figures and words; a mismatch weakens the evidentiary value.
- If you agree on interest, write the rate clearly and be careful not to exceed the legal limits.
- Specify the place and method of payment (IBAN, in person); get a receipt for cash payments.
- If there's a guarantor or collateral, write their identity and scope clearly; a "verbal guarantor" isn't enough.
- Fix the due date as a calendar day; wording like "whenever possible" causes problems in enforcement.
Why does a written debt document matter?
In Turkey, debts among family and friends are often left verbal; once repayment is delayed, both the relationship and the proof break down together. A simple written agreement clarifies the amount, due date, and interest decision.
Notarization isn't mandatory; a signed text is a strong basis in most disputes. For larger amounts or where proof is a concern, a witness or a notarized copy may be preferable.
Keeping payment receipts together with the contract makes it easier to allocate partial payments. A dated receipt is essential for cash payments.
Interest, installments, and collateral
An interest-free loan is possible; in that case, only the principal is repaid. If interest is agreed, the rate, calculation period, and the distinction from late-payment interest should be written.
If each installment's date and amount are listed in an installment plan, the delay calculation becomes clear. Add an early-repayment discount or a right to settle everything upfront if that's wanted.
Collateral (check, promissory note, pledge, guarantee) produces separate legal consequences. If you're using a promissory note or check, pay attention to matching the date and amount with the underlying document.
What to do if payment isn't made
Sending a written notice or reminder first is useful for good faith and proof. Enforcement proceedings and other legal remedies may follow after that.
The contract, receipts, and correspondence form the basis of the file. Missing identity information or an unclear due date makes follow-up harder.
Restructuring by settlement is also possible; put the new plan in writing again. Cancel the old contract or bind it with an additional protocol.
Usage notes
- Write the loan amount consistently in figures and words, and the repayment date clearly.
- If interest will be applied, set out the rate and calculation method clearly.
- Keep payment receipts together with the contract.
- If there's a guarantor or collateral, fill in their identity and scope completely.
- Update the remaining balance in writing after partial payments.
Legal information
Frequently asked questions
Related templates
Related guides
This is a general-purpose template and does not constitute legal advice.