Vidhikarya Official support e-mail Contact Vidhikarya by phone Number vidhikarya whatsapp Number
Vidhikarya Official support e-mail info@vidhikarya.com Contact Vidhikarya by phone Number+917604047601 vidhikarya whatsapp Number+919831397506
Corporate Services
Contact Us
Corporate Services Contact Us

Home > Free Legal Advice > Question Details

Vidhikarya Legal Questions Answered

100,000+ Legal Questions Answered

100,000+ Legal Questions Answered
Ask Your Question
Last Updated On 27-Jun-2018
Debt Collection

Kumar Krishnan

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

27-Jun-2018

Reply to this question

Reply
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.
Posted On 27-Jun-2018
Vidhikarya
Was the answer helpfull

Helpful

Share
A.
Whether your neighbor is having valid money lender license??
Posted On 27-Jun-2018
Vidhikarya
Was the answer helpfull

Helpful

Share
Submit request

Submit Request

Post Your Legal Issue to connnect with Lawyers Online

Submit
Talk to a lawyer

Read Related Answers

Tractor finance

Dear Client, Missing two EMI payments does not automatically give the finance company the right to seize your tractor in an unlawful or forceful manner. If your loan agreement permits repossession a...

Legal notice

Dear Client Yes, a reply to a legal notice may be sent by you through email, provided the notice permits communication by email or the sender's email address is available. There is no legal requireme...

Money borrowed but didnt return

Dear Client, Yes, you can seek recovery of money lent to someone. The available remedy depends on the evidence you have, such as a written loan agreement, promissory note, bank transfer records, UPI...

Loan recovery agents visit

Dear Client, Yes, a loan recovery agent may visit a borrower's residence to discuss repayment of an overdue loan. However, recovery agents must follow the law and applicable regulatory guidelines. G...

Drt - RC Issuance

Dear Client, In a credit card recovery matter before the Debt Recovery Tribunal, after issuance of the Recovery Certificate (RC), the bank or financial institution is generally required to place on...
Ask a Question

Ask a Question

Ask Now
Settle Your Dispute without going to Court

Read Blogs on Debt Collection

Facing a DRT Notice? Here’s What You Must Do Within 30 Days
Posted On : May 13, 2024

Facing a DRT Notice? Here’s What You Must Do Within 30 Days

Bankruptcy vs Insolvency: Are they Synonyms?
Posted On : May 13, 2024

Bankruptcy vs Insolvency: Are they Synonyms?

Insolvency Petition Procedure in India
Posted On : May 13, 2024

Insolvency Petition Procedure in India

Categories

©2026 Vidhikarya. All Rights Reserved.

Disclaimer

The Bar Council of India does not permit advertisement or solicitation by advocates in any form or manner. By accessing this website (www.vidhikarya.com), you acknowledge and confirm that you are seeking information relating to VIDHIKARYA LEGAL SERVICES LLP (The LAW FIRM) of your own accord and that there has been no form of solicitation, advertisement or inducement by VIDHIKARYA LEGAL SERVICES LLP or its members.
The content of this website is for informational purposes only and should not be interpreted as soliciting or advertisement. The User agrees that he/she is visiting the site on his own volition to seek more information about the firm and its Advocates.
The contents of this website are the intellectual property of VIDHIKARYA LEGAL SERVICES LLP.

OK Cancel
Vidhikarya Official support e-mail Contact Vidhikarya by phone Number vidhikarya whatsapp Number