Private money lender harassment Private money lender harassment

2 years ago

Hi All,
Myself Saravana, I had borrowed 5 lakh rupee against my land property documents from a private money lender. And was paying in 30 thousand/ month as interest (as 6% per month) I paid him this amount by cash and few times by Google pay for more than a year and then there was a switch in my job followed by COVID lockdown due to which I stopped paying interest amount. Now this money lender is harrassing me saying he will file a police complaint and I have to pay back him his actual money along with interest. He did bounce few cheques during this harassment period even after me telling him that I don't have balance in my account. I am willing to payback principal amount in bits and pieces.. But this lender is harassing too badly and demanding money with till date interest.. Please help..

Sidhaarth

Responded 2 years ago

A.The rate of interest @6% per month is very unreasonable and against public policy and law. Report the matter to police for harassment and file suit for permanent and mandatory injunction against him. Through court resolve the matter.
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

Ayantika Mondal @ Prime Legal

Responded 2 years ago

A.Hi,
You can pay the amount by deducting the amount you have paid already. You can prove your transaction in court by producing the transaction documents. You can contact a lawyer for further advice
Please rate my answer if helpful
Thank You
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

Anik

Responded 2 years ago

View All Answers
A.Hi,
You don't need to pay the amount which you have already paid before. If he denys the payment, you can prove in the court by submitting your transaction documents. You will get justice.
Please rate my answer if helpful
Thank You
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 iconEducation Loan
Dear Client, In the prevailing situation, you need to obtain a course cancellation certification from the institute, and based on said cancellation certificate you need to inform the concerned NBFC t...
question iconRegarding surity and stay of execution
Dear sir, You have to implead yourself as a party in the pending case if any otherwise file separate case to discharge you from suretyship.
question iconRecovering Loan given to a Friend
Dear sir As cheques are undated you can file cheque bounce case which is financially feasibly and you need not pay any court fees.
question iconCredit card payment
Dear Client, You can try to negotiate a debt settlement with the Bank on your own if your pocket permits to repay the entire outstanding of your credit cards at a time for a one-time settlement of du...
question iconJoint account Chaque with minor signature only
Dear Sir, Please check whether cheque is acceptable with the signature of minor normally it is not acceptable. Please get an endorsement from the Bank and then get issue a legal notice as provided und...
Read Blogs on Debt and Lending Agreement