About Fosik Lending

In Australia many people have private loans between family members, friends and colleagues. Australians have an estimated $3 billion in private loans, most of them undocumented with no agreed terms and conditions.

Typically, private loans are used for many purposes including:

Make purchases:

To buy personal items such as a car, boat, household appliances

Education:

Finance to do a degree or other course

Travel:

Finance an overseas holiday or cruise

Debt Restructuring:

Pay off credit cards or expensive personal loans from finance companies

Real Estate:

Buy or put a deposit on a house or, finance a home renovation

Business:

Funds to start up expand or support a business

Medical Expenses:

Pay for costly medical procedures

Tough times:

Funds to get through tough times such as loss of a job or bad health

All these loans start with the best of intentions but often things can go wrong because of a misunderstanding or things that weren’t properly worked out at the beginning. And that can lead to bitterness, family feuds, broken friendships and other distress.