Money lending on 10 percent interest per lonth
3 years ago
I had taken 1 lakh from sumone and he is asking me 10 percent interest for one month which is troublig me. And he is harassing me if I do not pay him the interest on time. What should I do ?? Is 10 Percent month.. money lending legal???
A.I have gone through your query in detail.
1) You are a Victim of Private Financer. You are paying 10% Monthly for 1 lakhs is exorbitant charges. You seem to be a educated person then too you have taken a loan @10% monthly is quiet surprising.
2) Due to the lockdown situation even the financial institutions such as banks and NBFC have relax the norms for repayment of the loans and other installments. This person is pressurizing you for money make sure that you record all his/her calls and SMS.
3) We can send a legal notice n file a case against him/her for her exorbitant charges of 10% interest rate.
4) It is high time that you should take a legal action against such kind of private financers without registration, n take them to the court for further law and order so at least other common people may benefit from such kind of unofficial financers.
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
1) You are a Victim of Private Financer. You are paying 10% Monthly for 1 lakhs is exorbitant charges. You seem to be a educated person then too you have taken a loan @10% monthly is quiet surprising.
2) Due to the lockdown situation even the financial institutions such as banks and NBFC have relax the norms for repayment of the loans and other installments. This person is pressurizing you for money make sure that you record all his/her calls and SMS.
3) We can send a legal notice n file a case against him/her for her exorbitant charges of 10% interest rate.
4) It is high time that you should take a legal action against such kind of private financers without registration, n take them to the court for further law and order so at least other common people may benefit from such kind of unofficial financers.
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
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A.It is not legal.. Lodge complaint with police and concerned licensing authority to close his business.
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Achintya Kr Mandal
Responded 3 years ago
A.Did you have any agreement between the lender and yourself ?
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