If I lend someone money, could I charge them interest when they pay it back?

Can you charge interest? Yes, but only if it is agreed to up front. If there is no agreement regarding interest before you lend, you cannot now return to the agreement and add interest. Also, should you decide between the two parties to charge interest, most jurisdictions have usury laws which limit the interest you can charge. No signed agreement can override this limitation.

Lending money is a bad idea... Generally speaking, assuming you are both competent adults, the two of you can include whatever legal terms you want in the contract, including interest. A contract should be specific as to its terms, including whether the interest started accruing at the time of the original loan or whether it is to start accruing upon the date of execution of the new agreement. Yoy may need to negotiate this with your friend, since you cannot "force" her to sign a new contract - it must be an agreement of the parties

Take Care

Dont lend money at all - ESPECIALLY to a friend

Lending money to a friend is the quickest way to stop being friends

If they dont pay it back then you will get angry with them for trading on the friendship

If you ask for it back they will get angry with you for asking for it back

(there are a LOT of people who believe they have a right to their friend's money just cos they are friends)

If its only a small amount then give it to them

And why the hell would you want to lend money to a stranger?

The ONLY way I would do that is if they had some substantial security for the loan (and I would make sure it was THEIRS)

Then I would only give them a loan if they gave me that to hold until the loan was repaid with interest, and ALL the conditions would be laid out in an agreement that if it wasnt repaid by a certain date then the security would be mine.

Why should I have all the hassle of tracking THEM down and then suing them.if they didnt repay?

With me holding the security then THEY have all the hassle.to ensure the debt is repaid on time.and getting THEIR stuff back.

Any problems- then THEY have all the hassle of suing. cos YOU have got their stuff.

No, you can't change the terms of the agreement because you want to throw a fit.

BEFORE you make the loan, you agree to terms of repayment.

Yes, small claims courts will consider written IOUs between parties if both agree that they signed it. You can try to get your debtor to sign an agreement now but, there's no reason in the world for them to do so.

Leave it out. Don't lend the money because if you're thinking this way you obviously dont view them as a friend. Don't be so shady.

yes thats what peer to peer lending sites are all about. however higher reward means higher risk.

beyond this you may come up against legal restrictions and difficulties getting your money back.

friends: never a lender or borrower be, you can lose friends which is worth more than money.

Only if that was part of the agreement when the money was lent.

If you're a dick sure. Don't lend a friend money you can't live without it gets ugly fast.

only if you have a written contract

if not, they don't have to pay it back at all

yes and call yourself payday loans every bodies doing it we don't need friends anyway we can be rich

(sarcasm)