Money transactions between individuals are reluctant for various reasons.
However, there may be times when you have to borrow money out of necessity.
In this case, the closer you are, the more certain it is to lend.
차용증 쓰는 법
Please check out how to use an IOU that I will teach you today and be sure to use it.
The first thing to prepare in order to receive money without having to pay is an IOU form.
Below, what does an IOU mean, the effect of an IOU, the IOU form, how to write an IOU,
Let’s find out the effect of notarizing an IOU and the cost of notarizing an IOU.
The IOU is not issued by a financial institution such as a bank.
Among the data that proves when an individual lends money
It can be seen as one.
Since this is a document that you don’t normally come across,
You may be unfamiliar with everything from how to write to the IOU form.
You can download everything from how to fill it out to the free IOU form below.
index
1. How to get money lent to you
2. What is the IOU document?
3. What is collateral?
4. What is evidence collection?
5. Effect of IOU
6. Borrowing certificate notarized
7. How to use an IOU
8. Contents of IOU
9. Borrowing certificate notarization fee
10. Free IOU form
1. How to get money lent to you
Preventive measures to collect loan money
1. Fill out IOU
2. Collateral establishment
3. Gather evidence
A post-mortem solution to collect the money you lent
1. Civil Litigation
2. Criminal charges
2. What is the IOU document?
The reason for writing an IOU is to say that you have lent money.
This is to leave evidence.
In addition, the IOU usually states when to repay it,
Important facts such as how much interest is included are listed.
It is important to fill out an IOU.
3. What is collateral?
However, no matter how much you write down the IOU,
In the end, if the borrower who borrowed money does not have money,
It’s difficult to get money.
Setting up collateral is easy to see around us.
For example, when borrowing money from a bank
Setting up a mortgage on a house
This is when you deposit expensive items when borrowing money from a pawn shop.
Collateral type
1. Personal collateral – guarantee, joint guarantee
2. Physical collateral – establishment of mortgage, establishment of pledge
4. What is evidence collection?
The most important piece of evidence to collect is having an IOU written down, but
In addition to the IOU, it is a good idea to gather as much evidence as possible.
For example, if you cannot write an IOU,
If you only have account transfer details,
Later, the person who borrowed the money admits that he received the money, but
There may be cases where it is claimed that the money was not borrowed.
(He just received the money he had previously lent, etc.)
In this case, the fact that money was lent in lieu of an IOU,
How much is the interest and when will it be repaid?
You must create evidence by making phone calls, text messages, KakaoTalk messages, etc.
(If you actually decide to lend it,
This means mentioning it specifically and keeping it on record).
In this case, phone calls must be recorded, and text messages or KakaoTalk must be captured and stored.
Download computer records related to text messages or KakaoTalk, or
You must check with your telecommunications company, obtain records, and keep them.
Because the carrier only stores it for a certain period of time.
If a lot of time has passed, even if a lawsuit is filed
This is because it is actually difficult to look up.
5. What is the effect of IOU?
An IOU is how much money the creditor lends,
The debtor agrees to repay the amount and by when.
This is an evidence document.
For example, if the debtor does not pay the money,
If a creditor files a lawsuit in court,
If the creditor submits an IOU and it is acknowledged that the IOU is genuine,
Since the fact of the money lending contract is recognized,
The debtor cannot deny that he borrowed money.
6. What is IOU notarization?
Notarization of an IOU is done at a notary office (law firm where a lawyer works, etc.).
This refers to creating an IOU or certifying an IOU that has already been created.
The reason for notarizing the IOU
This is to ensure that the legal validity of the IOU is recognized.
In other words, the purpose is to have the IOU accepted as evidence in a trial.
For example, I wrote an IOU, but
If it is not notarized,
If an IOU is submitted as evidence in a lawsuit,
If the debtor denies that the stamp on the IOU is not the one he stamped,
The creditor must prove that the stamp on the IOU was stamped by the debtor.
However, if the IOU is notarized,
The debtor cannot deny the IOU.
In other words, the IOU that was notarized in the lawsuit
Because strong evidence is recognized,
The information written on the IOU (money borrowed by the creditor, expected date of return of the debtor’s money) is recognized as true.
It becomes impossible for the other party to deny it.
7. I’m curious about how to use an IOU
Filling out an IOU is easy.
All you have to do is fill out the IOU form.
Nevertheless, it is necessary to know how to write.
In the case of an IOU written between individuals, it is not effective.
Later, when a problem arises and a legal dispute arises,
This is because it can be important evidence.
If you had an incorrectly filled out IOU at this time,
Naturally, it becomes difficult to be accepted as evidence.
8. What is the content of the IOU?
The information that must be included in the IOU is simple.
In addition to the items below, by mutual agreement
Please note that you can also write additional information.
Personal information of the creditor (the person lending the money)
Personal information of the debtor (the person who borrows money)
Amount of debt (amount lent or borrowed)
interest rate
Repayment date and method (date and method of repayment)
Penalty for delayed repayment (penalty incurred when payment is due beyond the due date)
Other mutually agreed upon details
It must be written by the creditor and debtor in their own handwriting.
In the unlikely event that the process is carried out by an agent rather than the principal,
Personal information of the parties, including supporting materials,
You must also add your agent’s personal information.
And you usually sign a lot.
If possible, it is better to use a personal seal rather than a signature.
This is rather than a typical stamp or signature.
Since it has much public confidence, when adopting evidence later,
Because it can be advantageous.
9. Borrowing certificate notarization fee
In order to get notarized
A fee must be paid to the notary public office.
The cost of notarizing an IOU is as follows.
Purpose of legal action
Fee (cost)
Up to 2 million won
11,000 won
Up to 5 million won
22,000 won
Up to 10 million won
33,000 won
Up to 15 million won
44,000 won
When exceeding 15 million won
Add 3/2,000 of the excess amount, but it cannot exceed 3 million won.
10. Free IOU form
If you have checked how to write an IOU
Now, you can download and fill out the desired IOU form.
First, this is an IOU form in Korean.
There are forms that are simple to use and forms that allow for detailed records.
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The downloaded IOU form can be modified slightly.
I hope that anyone who needs it will find it useful.
Transacting money between individuals
Basically, it is true that it is based on trust.
Therefore, it is important to keep each other’s beliefs as documentation, such as an IOU.
If possible, submit the completed loan certificate to a notary office.
If you get it notarized, you can wisely deal with any problems that may arise later.
However, there is a cost involved, so please take this into consideration before proceeding.