How to recover husband took loan on my name
7 months ago
My husband took 20 lakhs personal loan on my name and promised to pay EMIs. I transferred 20 lakhs amount via phonepay to his bank a/c (sent 1 lakh every day to his bank a/c). Since 5 months we are living seperate and he stopped paying EMIs. I have 5 months old baby and my husband didn't even come to see the baby since 5 months. I last seen him is when my child is 10 days old and he said he doesn't want to live with me. I called my husband and his parents multiple times and asked them to give back my amount but they all are abusing me verbally. How to get my amount ? Please advice.
A.Dear client,
You can lodge a police complaint against him and his parents. You can also file a suit against them for abusing you and also a money recovery suit.
You can lodge a police complaint against him and his parents. You can also file a suit against them for abusing you and also a money recovery suit.
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A.Dear Client,
A borrower is held liable personally for his or her debt for non-payment of the outstanding amount of the loan. Once the repayment of the loan stops or bounces for consecutive 3 installments, The Bank initiates a routine course of action for recovery of the loan from the borrower marking the loan as a bad loan/NPA. You can make a prayer to the Bank for some more time to settle the dues but cannot escape yourself from your liability of repayment of your loan for any reason whatsoever. If a suit for recovery of an outstanding loan from the borrower is filed by the Bank before a Civil Court, after hearing both parties Court may pass an order for attachment of collateral security for both the borrower and guarantor for recovery of the loan. you may make a prayer before the Court for granting some more time explaining your present financial constraints which may or may not be allowed on the objection from other party Bank. So, try to negotiate the matter with the Bank out of court on suitable terms considering its impact on your CIBIL Record and other legal consequences. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path forward. you can file a criminal suit against your husband u/s.420 of IPC for cheating and u/s.406 of IPC for criminal breach of trust claiming recovery of money. Apart, you can also file a civil suit against your husband under Order IV of the Code of Civil Procedure 1908 (CPC). It is a summary suit ( under Order 37, Code of Civil Procedure) that offers speedy disposal of the suit as here the defendant is not required to defend as a matter of right. Summary proceedings are legal remedies for recovering money, resolving business transactions, and resolving contractual disputes. Reach out to an Advocate for guidance and steps.
A borrower is held liable personally for his or her debt for non-payment of the outstanding amount of the loan. Once the repayment of the loan stops or bounces for consecutive 3 installments, The Bank initiates a routine course of action for recovery of the loan from the borrower marking the loan as a bad loan/NPA. You can make a prayer to the Bank for some more time to settle the dues but cannot escape yourself from your liability of repayment of your loan for any reason whatsoever. If a suit for recovery of an outstanding loan from the borrower is filed by the Bank before a Civil Court, after hearing both parties Court may pass an order for attachment of collateral security for both the borrower and guarantor for recovery of the loan. you may make a prayer before the Court for granting some more time explaining your present financial constraints which may or may not be allowed on the objection from other party Bank. So, try to negotiate the matter with the Bank out of court on suitable terms considering its impact on your CIBIL Record and other legal consequences. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path forward. you can file a criminal suit against your husband u/s.420 of IPC for cheating and u/s.406 of IPC for criminal breach of trust claiming recovery of money. Apart, you can also file a civil suit against your husband under Order IV of the Code of Civil Procedure 1908 (CPC). It is a summary suit ( under Order 37, Code of Civil Procedure) that offers speedy disposal of the suit as here the defendant is not required to defend as a matter of right. Summary proceedings are legal remedies for recovering money, resolving business transactions, and resolving contractual disputes. Reach out to an Advocate for guidance and steps.
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