How to prove paid personal loan on paper?

Question by Mark Edge: How to prove paid personal loan on paper?
Hello. I took out a personal loan with a friend and will be repaying it in full. How do I have prove that i paid it for the courts? A promisory note seems to be only for the issue of a loan, not the actual repayment is done.

Best answer:

Answer by Grandview Investigations

Just as you wrote a contract for the loan, you can also write a paper for the satisfaction of the loan or record payments as the case may be. If you are paying in full, just write something like this:

On (state date) the loan made on (state date loan was given) between (state his name) and (state your name) was paid back in full in the amount of (state amount paid)

Have both of you sign it and to be sure, have a witness also include their name on this same paper.

You should be fine and this will be satisfactory for any court if by chance you are sued for this amount.

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