Kumar Krishnan Kumar Krishnan

5 years ago

Dear Sir
I have taken a hand loan of amount 5 Lacs from a neighbor a year back. paid all outstanding interest till this month. Now he is immediately asking me to settle the 5 lac amount. I need another 3 months time to arrange the amount. Kindly advice if legally i have any options to do so

NILANJAN CHATTERJEE

Responded 5 years ago

A.you send him a letter stating your financial condition and ask for 3 months grace. If he doesn't allow that then in that case let him file a suit against you. That letter will be the best available defence in your case. Wherein which the court can grant you the time and dismiss his case.
Helpful
Helpful
Share

Post Your Matter Post Your Matter

Talk to a Lawyer Talk to a Lawyer

Ask a question Ask a question

Vidhi Samaadhaan Vidhi Samaadhaan

Ashish K Dongre

Responded 5 years ago

A.Whether your neighbor is having valid money lender license??
Helpful
Helpful
Share

Post Your Matter Post Your Matter

Talk to a Lawyer Talk to a Lawyer

Ask a question Ask a question

Vidhi Samaadhaan Vidhi Samaadhaan

Read Related Answers

question iconPatient Defaulting payment
Dear Client, A trade discount was allowed on the treatment package when the patient agreed with the condition of taking both sessions of treatment. So, in breach of said condition, the patient cannot...
question iconThird party loan
Dear Client, In the given situation, file a complaint against the third-party loan app and its recovery agents in the local Police Station and lodge a complaint online to the Cyber Crime Cell endorsi...
question iconPrivate money lender harassment
Dear Client, In the absence of any written documents supporting your claim of money from your friend, and moreover, you issued an NOCi. So, in such a situation it is almost impossible to get back the...
question iconHarassment caused by Recovery Agents
Dear Client, In the given situation, filing a complaint against the recovery agents in the local Police Station and endorsing a copy of said complaint to the concerned Bank, a complaint against the lo...
question iconRecovery money
Dear Client, In the given scenario, no legal remedy is feasible in the absence of any documentary evidence supporting your claim to recover the money that you lent to your relative. However, you can...