How do I keep track of the private money I owe?

Question

I was just wondering if anyone knew of a good website or program to track private money lending?

My parents helped me finance a property and I am paying them back over 3 years. I'd like to have a program that will take into account every payment and overpayment and calculate it out amortized over 3 years with the interest rate that we've agreed upon.

Thanks, Tom

Don Konipol · Answer

For money you owe, not money owed to you, Quickbooks Pro component "Loan Manager" has a built in amoritization schedule and will automatically track and calculate each loan you or your company owes.

Account Closed · Answer

Thomas, the easiest way is to create a loan amortization and include your actual payments and payment info. If you use Excel they have several free download templates that you can get.

You should also document your lending agreements.

Aaron Mazzrillo · Answer

I recommend TValue as well. I saw that Bryan posted it first so I wasn't going to bother, but then figured a 2nd recommendation wouldn't hurt.

Bryan Hancock · Answer

Excel is fine. The Mortgage Professor's site is a good one to check out too. He has many templates on there that are free.

TValue:

TValue

may help some too.

David Knell · Answer

Just to echo Charles, I've done some private lending, and never needed more than Excel - even for dealing with late payments, etc.

--Dave

Douglas Wolf · Answer

Hi Charles, are you a private leder yourself? I just ask because you seem like you have alot of first hand info. Thanks Doug

How do I keep track of the private money I owe?

How do I keep track of the private money I owe?

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