Money lenders or security or forcible or cheque surrender
10 months ago
This is Sam . Person by name Satish took 12 lakhs rupees from one of a private financier And my father is shivruity for that . Unfortunately Satish family because of financial burden make suicide and ends in death . Satish also ends in death due to high bp and sugar .And financier took 12 lakhs rupees cheque from satish . But he was unable to recover that because of satish death s .Now financier is behind my father and forcibly replaced cheques with my father . Now i need suggestion
A.Dear Client,
If the private financier is a NBFC then its business is regulated by the guidelines of RBI. From the query, it is not clear whether the loan is a secured or unsecured loan. In case it is a secured loan, then the financier has to exhaust all the remedies available for recovery of debt lying unpaid against the deceased borrower failing which, the lender can take action against the surety for recovery of debt of the borrower. Regulatory Authority, RBI issued orders/advisories refraining NBFC, FI strictly from taking any coercive or forceful action deploying the recovery agents to recover the dues from the defaulter loanee or Surety/Guarantor. In case you are getting such kind of threat calls or messages from recovery agents or any unknown entity, you need to get in touch with an Advocate with all your papers/document for guidance and for taking necessary steps to resolve the issue in accordance with the provision of relevant laws.
If the private financier is a NBFC then its business is regulated by the guidelines of RBI. From the query, it is not clear whether the loan is a secured or unsecured loan. In case it is a secured loan, then the financier has to exhaust all the remedies available for recovery of debt lying unpaid against the deceased borrower failing which, the lender can take action against the surety for recovery of debt of the borrower. Regulatory Authority, RBI issued orders/advisories refraining NBFC, FI strictly from taking any coercive or forceful action deploying the recovery agents to recover the dues from the defaulter loanee or Surety/Guarantor. In case you are getting such kind of threat calls or messages from recovery agents or any unknown entity, you need to get in touch with an Advocate with all your papers/document for guidance and for taking necessary steps to resolve the issue in accordance with the provision of relevant laws.
Helpful
Helpful
Share
A.Dear client,
Unfortunately when someone is surety for a loan they are bound to repay it. You can hire a legal counsel to help you fight this case in court since circumstances indeed are unavoidable and unfortunate.
Unfortunately when someone is surety for a loan they are bound to repay it. You can hire a legal counsel to help you fight this case in court since circumstances indeed are unavoidable and unfortunate.
Helpful
Helpful
Share
Read Related Answers
Regarding 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.
Recovering 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.
Credit 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...
Joint 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...
Cheque and pronote
Dear Sir,
You have done a blunder mistake. However, you may approach the Police and lodge a complaint of cheating for not returning your cheque leafs and pronotes. Even if no action is taken by the Po...
Read Blogs on Debt and Lending Agreement
Debt and Lending Agreement Lawyers
Find Lawyers by Location
