Loan Loan

1 year ago

I have taken loan of 10000 from pocketly. They really file a legal case on me. Currently don't have money to pay....

Kishan Dutt Kalaskar

Responded 1 year ago

View All Answers
A.Dear Sir,
For that small amount they cannot file any case and if filed the legal expenses would be more than amount lent to 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 1 year ago

View All Answers
A.Dear Client
Its better to pay that much amount which you are able to pay so that you can overcum financial burden and after that if you are still not paying then you will be declared as defaulter. After that you wil be appearing in court for recovery suit and after that court penalize you and charge interest on you and if you will not pay within the prescribed time then court will attach your properties so that loan amount can be recovered so its better to avoid tough litigation you should pay the amount which you are able to pay.
Hope it helps
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

Advocate Simi Paul

Responded 1 year ago

View All Answers
A.Hi client,
If you have taken a loan it means you are liable to pay it.
You can write a letter to the concerned bank/loan authority seeking some more time.
If they grant that is fine, if not you have to wait for the legal consequences.
Thanks and Regards
Simi Paul
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 iconSharing bank statement of Defence Salary Account to third person wo informing
Dear Sir, You may get issue a legal notice to the concerned Bankers and the Head office and initiate legal action and claim huge compensation for not securing your account details which are private de...
question iconBorrowed money
Dear Client, Your query requires more details to address it suitably. You expressed your concern but not a cause of action behind that concern that attracts a legal remedy. It is a virtual platform w...
question iconPersonal Loan Settlement
Dear Client, You need to adhere to the payment of EMI and interest rates as provided by the financial corporations to settle the loan amount. In case of a financial crisis, you can contact the manager...
question iconHome loan for Gifting deed
Dear Client, Once a donor or owner of the property gifted the property to the donor through a registered deed of gift, the property becomes the self-acquired property in the hand of the donee who beco...
question iconCar loan
Dear Client, Once a borrower fails to repay his debt, the Lenders/FIs initiate a routine course of action for recovery of the loan/debt from the borrower. You may negotiate or settle your dues agains...