Hand loan given to friend not giving since 5years
6 months ago
I have given Rs.5Lacs (1.5+3.5) in 2018. After lot of persuasion got 2.25lacs(2+0.25) , remaining 2.75lacs he is not returning back to me. I have bank statements recorded transactions of money sent to him. And also for recieved transactions for 2.25lacs. Is it possible to recover the money from him. As he is not answering my call
A.Dear Client,
Sorry to say, based on a standalone bank statement that reflects no purpose behind the transaction of money between you and your so-called friend, you cannot recover your lending money from the friend even through litigation before the Court. Instead, in case you opt for litigation to recover the outstanding lending money, you may face backfire from your friend and to face adverse consequences.
Sorry to say, based on a standalone bank statement that reflects no purpose behind the transaction of money between you and your so-called friend, you cannot recover your lending money from the friend even through litigation before the Court. Instead, in case you opt for litigation to recover the outstanding lending money, you may face backfire from your friend and to face adverse consequences.
Helpful
Helpful
Share
A.Dear Client,
If your attempts at communication fail, you may consider sending a legal notice through a lawyer. A legal notice is a formal communication that conveys your intention to take legal action if the debt is not repaid. This often encourages the debtor to resolve the matter without going to court. If all else fails, you may need to initiate a civil lawsuit against the person who owes you money. In India, you can file a civil suit in the appropriate court based on the jurisdiction and the amount in question. Consult with a lawyer to understand the specific court where you should file the case. Ensure that you have all the necessary documents and evidence to support your claim. This includes bank statements, receipts, and any correspondence related to the debt.
If your attempts at communication fail, you may consider sending a legal notice through a lawyer. A legal notice is a formal communication that conveys your intention to take legal action if the debt is not repaid. This often encourages the debtor to resolve the matter without going to court. If all else fails, you may need to initiate a civil lawsuit against the person who owes you money. In India, you can file a civil suit in the appropriate court based on the jurisdiction and the amount in question. Consult with a lawyer to understand the specific court where you should file the case. Ensure that you have all the necessary documents and evidence to support your claim. This includes bank statements, receipts, and any correspondence related to the debt.
Helpful
Helpful
Share
Read Related Answers
Credit card
Dear Client,
You can try to negotiate a settlement of your credit card dues with the Banks on your own if your pocket permits and the bank agrees, but sometimes it's typically done through third parti...
Harrassment and verbal attack on personal misfortune by Bajaj Finserve TVM
Dear Client,
As per the contractual obligation you are bound to repay the loan but the creditors have no right to harass you to recall the amount, there are rules set as per RBI guidelines as to how...
Complaint regarding not refunding fees.
Dear Client,
It's essential to communicate clearly with the center about your request for a refund and to provide any necessary documentation, such as receipts or enrollment agreements, to support y...
Insolvency
Dear Client,
Under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can file for bankruptcy if you are unable to repay a debt greater than ₹500. After analyzing whethe...
How to get stay order of property possession taken by NBFC
Dear Client,
Sub-section (3A) of Section 13 of the SARFAESI Act was introduced by way of an amendment in the year 2004 whereby (3A) the borrower is allowed to make representation or raise an objectio...
Read Blogs on Debt Collection
Debt Collection Lawyers
Find Lawyers by Location