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Debt collection
2 years ago
I work in a coop society (patsanstha). I have given loan of around 2 lakhs to my neighbours with higher interest rate as a premium for not having mortage, on my own resposibility. Resposibility as in, we only took the signed agreement for granting the loan without any mortage or witnesses. Now they are refusing to pay the money and society is asking me to pay the sum. Is there any legal way to get the money lended to the neighbours?
A.Dear Sir,
You may approach the Police and try to get or file a civil suit for recovery of money but chances are very low.
I could have explained more if background is known to me. If background is made known in full then legal experts will be in position to understand correctly. Moreso, the background must be in brief.
Please give me FIVE STAR if satisfied by my answers.
You may approach the Police and try to get or file a civil suit for recovery of money but chances are very low.
I could have explained more if background is known to me. If background is made known in full then legal experts will be in position to understand correctly. Moreso, the background must be in brief.
Please give me FIVE STAR if satisfied by my answers.
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A.Dear client,
You can use the signed agreement/ Promissory note as an evidence and can sue the person in civil court under order 37 of Civil Procedure code by filling summary suit through a lawyer.
Thank You.
You can use the signed agreement/ Promissory note as an evidence and can sue the person in civil court under order 37 of Civil Procedure code by filling summary suit through a lawyer.
Thank You.
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