Interest charging at 30% PM
1 year ago
Sir i took a loan of 10,000 from a company, as per the website it was mentioned interest as 1000 for 61 days tenure after 61 days need to pay 11000, but when the same company approached me they are collecting 1 % per day i.e. interest comes to around 3000 per month, i have to pay 13000 per month, i have paid 13000 for two months, but due to this high interest rates my debts are increasing and there is no option to close it, third month i took loan amt, but could not make the payment, at the time of taking loan i have issued a cheque, after 45 days from taking the loan they bounced the cheque and are threatening will proceed legally, please advice what to do
A.Dear Client
The interest that they are charging is usurious and you can file a complaint to the RBI for this. Let RBI take action against such lenders who are flouting the banking and lending norms to harass the people.
The interest that they are charging is usurious and you can file a complaint to the RBI for this. Let RBI take action against such lenders who are flouting the banking and lending norms to harass the people.
Helpful
Helpful
Share
A.Dear Client,
You may lodge a complaint against them in the police station for harassment and never get involved with such schemes again.
You may lodge a complaint against them in the police station for harassment and never get involved with such schemes again.
Helpful
Helpful
Share
Read Related Answers
the judiciary system
Dear Client,
It may please be noted that you have already responded to almost the same query twice in the portal earlier once on 06/04/2024 and again on 08/04/2024. So, it is recommended to avail of o...
cheque bounce case
Dear Sir,
You have to contest the case hardly and putforth all the evidences to show that the cheque and promissory note were not issued for any consideration and all the amounts were cleared.
Cheque bounce case
Dear Sir,
You have to contest the case hardly and putforth all the evidences to show that the cheque and promissory note were not issued for any consideration and all the amounts were cleared.
138ni act
Dear Client,
A promissory note is a legally binding promise to repay a debt. Promissory note laws vary by state, but they typically include the loan amount, loan terms and signatures from both the le...
Cheque Bounce - Recalling Arrest warrant without me or my advocate by the Judge
Dear Client,
In case of urgency, it will be open to the parties to mention the matter before the Hon'ble Court even before the scheduled hearing date for urgent listing or preponing the date generated...
Read Blogs on Cheque Bounce
Cheque Bounce Lawyers
Find Lawyers by Location
