What is the name of your state (only U.S. law)? Ohio (but debtor would be in Kentucky)
I do not know if this is the right category, but it was the closest I could find. I have a friend that I am wanting to lend some money to. They are a good friend, but if I have learned anything from watching Judge Judy, it's to get a contract and get it in writing even with friends and family.
Since this is crossing state lines here, does it need to follow Ohio law (where I am, and I am doing the lending) or Kentucky law (where she is, and she's doing the borrowing). I was not going to charge much interest, but I do know it has to fall within the state rules...thus another reason I wanted to know which state I should follow on this. AND, where do I find the allowed interests rates, for loans, for both states?
Thank you!
I do not know if this is the right category, but it was the closest I could find. I have a friend that I am wanting to lend some money to. They are a good friend, but if I have learned anything from watching Judge Judy, it's to get a contract and get it in writing even with friends and family.
Since this is crossing state lines here, does it need to follow Ohio law (where I am, and I am doing the lending) or Kentucky law (where she is, and she's doing the borrowing). I was not going to charge much interest, but I do know it has to fall within the state rules...thus another reason I wanted to know which state I should follow on this. AND, where do I find the allowed interests rates, for loans, for both states?
Thank you!