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Last Updated On 02-Jun-2025
Debt and Lending Agreement

Repayment issues

I have borrowed rs 40000 from my friends and they are asking me to pay rs 80000 with interest and this interest is only for 4 months.and now my family situation is very bad so I am unable to pay the amount now..so I want 1 tear time to clear this dues as a student I am asking you what to do

( Khammam, Telangana )

01-Jun-2025

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A.
Dear Client,

First of all talk to your friends and explain your situation honestly tell them you are not refusing to pay, but you need time like 1 year or so and cannot pay double the amount. If your intentions are to pay then suggest a monthly repayment plan that is realistic even if it's Rs, 2,000–Rs.3,000 per month.

Charging 100% interest in 4 months is usury and can be legally challenged. If your friend threaten or harass you, you can approach the police or the nearest legal aid cell.

Consult an Advocate for taking any legal steps.
Posted On 02-Jun-2025
Gourab Das Advocate Gourab Das
Gourab Das
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A.
Dear Sir,
You just ignore their calls and it being a civil in nature they cannot give any complaint against you in Police. Alternatively, they can file a civil suit if you have executed any document like promissory note etc., otherwise they even cannot file civil suit. Not to worry.
Posted On 02-Jun-2025
Kishan Dutt Kalaskar
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