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Q. Friend not ready to give Loan money back.

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Anonymous

posted 1 year ago

Q.Friend not ready to give Loan money back.
Hi,
I have a friend from my school days, lets call him “A” ...when is started a job in delhi i called him here and got sure he has a job at my firm and he started living with me & my friends in delhi.. later he moved to his cousins house in delhi .. Lets say his cousins name is “B” but we were close friend and i did help him get a job so we were always in touch and in 2016 he went to Canada for studies. He wants to settle there and so took student visa and starts to study there. Last year he called me and told me that he failed his third semester and needs money for fee since he already has taken loans and cannot take anymore loan. he asked me to take a loan in my name and he will keep paying the instalment, considering that he is my childhood friend & things will fall apart of he didn’t pay the fee i agreed. His cousin works with a bank so “B” got my loan approved of 6 lac and i then transfered it to “B” account and he later transfered it to “A”. A has been paying instalment so far but last month he didn’t pay the instalment and now he has his phone switched off. I have been calling his phone number in canada and it goes to voice mail.

I’m the only earning member in the family.. I cannot take this monthly instalment of 14000 per month. We don’t have a documented agreement that i am giving him a loan but i made a NEFT account transfer to his cousin brothe “B” account.

I am not sure if i will ever get my money back if he decides not to give it. All i have is some chat conversation and account details showing that money flowed into my account and then i transfered it to him.

Anything i can do to get this resolved, also i am not sure how long will it take if I decide to sue him.

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GANESH SHARMA

Experience: 3 Year(s)

Responded 1 year ago

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A. ) As per the transactions you have mentioned . You have transferred money I'm B account and he is in India. Good case. Contact for legal action. Need not to worry

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Rajeev RJ

Experience: 17 Year(s)

Responded 1 year ago

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A. ) collect the maximum proof and issue a legal notice first then a proper case can be filed.

regards

Rajeev
RJ Associates
Kerala

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Bharat Pawar

Experience: 9 Year(s)

Responded 1 year ago

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A. ) 1) sir you can issue legal notice to recover your debts.

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Sushama

Experience: 5 Year(s)

Responded 1 year ago

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A. ) Hello
First you have to make police report then Send a legal notice upon your friend for demanding amount.
Contact for more details

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Ambrose Leo

Experience: 9 Year(s)

Responded 1 year ago

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A. ) Yes ,you can collect all the information with you & issue a legal notice through High Court Lawyer both to your friend & his cousin quickly.

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