Property debt
4 years ago
I got 3 lacs for 2% interest on April 2014
And I have Interest for 1 year and suddenly my father got paralyzed and didn't pay interest from Apr 2015, but I didn't provided with receipt for the interest paid Now I got a letter from court stating I have to pay 16 lacs lacs orelse property will be seized. Can u help me out what is the possible way to defend.
Advocate Manish Kumar
Responded 4 years ago
A.you have not disclose either it was personal loan or commercial/business loan. letter sent to you may be legal notice so kindly send me said letter so that i can read what ground was taken against you.
Helpful
Helpful
Share
A.Dear Sir,
You may share entire details of your loan transaction. It cannot be double the amount of principal amount. Further a loan cannot be recovered if suit is not filed within three years from the date of advancement of loan.
Please take PAID phone call with me through VIDHIKARYA and get more legal guidance.
You may share entire details of your loan transaction. It cannot be double the amount of principal amount. Further a loan cannot be recovered if suit is not filed within three years from the date of advancement of loan.
Please take PAID phone call with me through VIDHIKARYA and get more legal guidance.
Helpful
Helpful
Share
Read Related Answers
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Under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can file for bankruptcy if you are unable to repay a debt greater than ₹500.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...
Patient Defaulting payment
Dear Client,
A trade discount was allowed on the treatment package when the patient agreed with the condition of taking both sessions of treatment. So, in breach of said condition, the patient cannot...
Read Blogs on Debt Collection
Debt Collection Lawyers
Find Lawyers by Location
