How to overcome the mental torture creditors How to overcome the mental torture creditors

My father has bought leathers worth 25 lakhs and he is unable to repay it as he has suffered a huge loss . He is getting mentally tortured and abusive language is also used . How to overcome this

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Posted 4 months ago


A. See your father needs to talk to the creditor and arrive at an amicable settlement for paying of the dues slowly as the market recovers. In case he is not able to run the business and there is no possibility to recover then ask him to file an application for bankruptcy.

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Reg Credit Card  Due and arbitration process Reg Credit Card Due and arbitration process

Hi, I have used the Credit card for Rs.60,000/-. I have paid half amount . And not made the balance EMI payment for last 7 months. They now came and ask to pay Rs.1,05,000/-. They Invited for the arb

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Posted 4 months ago


A. They might send a legal notice followed by money suit to recover the due amount form you. They will file a case in civil court for money suit and send summon to you for appearance and then you will have to fight the case in court.

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My credit card loan gone NPA. My credit card loan gone NPA.

My credit card loan gone NPA. My services were terminated on unjust grounds and I have filed a legal case against them in labour court.I am a bachelor. I want to know whether loan repayment liability

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Posted 6 months ago


A. Unless your parents/ father/ family stood as guarantor, there is no eventuality to fasten them with any such obligation, under the law. And assuming you narrated the complete transaction, I also do not see any undertaking or assignment of loan took place either. Hence, obligation on your family does not arise. However, the liability will remain vis-a- vis your 'personal assets', unless you have proceeded for Bankruptcy. Finally, please be informed that your institution of a legal case in labour ...ReadMore

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Ayantika Mondal @ Prime Legal

Ayantika Mondal @ Prime Legal

Loan taken from Zestmoney but loanee is dead, who will pay the debt? Loan taken from Zestmoney but loanee is dead, who will pay the debt?

मेरे भाई ने ZESTMONEY से 1 वर्ष के लिए 28 हजार का ऋण लिया था जिसका 4 या 5 EMI का भुगतान भी कर

2 Response(s)

Posted 6 months ago


A. Since the loan was taken by your brother and not you or your family so your are not responsible to repay the loan as per the law. If they call and harass you lodge a police complain against them for harassment.

ऋण आपके भाई ने लिया था आपने नहीं इसके लिए आपको ऋण चुकाने की ज़रुरत नहीं नहीं है। आपके भाई के मौत के साथ ऋण भी समाप ...ReadMore

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SARFAESI  act and  CERSAI registration SARFAESI act and CERSAI registration

i was a director of a pvt ltd company ,this company given their only property of 11 cents and a building as collator security to a scheduled bank , for Another company owned by many persons ,

4 Response(s)

Posted 7 months ago


A. Dear Sir,
Without such registration there is a legal lacuna and you can fight on that ground and seek cancellation of such public auction. To get more effective advise you have to share more details with any of the legal experts who are nearer to you.

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Credit card demand legal notice Credit card demand legal notice

I have received a demand leagl notice for non payment of credit card. I am very TENSED as they are calling me many times and saying if I don't pay them full in few days then they will ask me to co

3 Response(s)

Posted 7 months ago


A. Hello
You'll have to pay your credit card bills otherwise they have right to initiate legal proceedings against you. Better option you have is to contact the service provider as tell them regarding your situation they might agree on a lower amount payble for credit bills. Other option you have is to sort this thing out through alternate dispute resolution process.
Thanks.

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Ayantika Mondal @ Prime Legal

Ayantika Mondal @ Prime Legal

Debt settlement Debt settlement

I would like to settle my credit cards and personal loan as now my financial condition is very bad. Total due is approx 12-13 lacs. Please guide

6 Response(s)

Posted 7 months ago


A. That is very high amount to settle easily.

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Latest Response 7 months ago
Ankur Goel @ Complete Law Shield

Ankur Goel @ Complete Law Shield

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Ayantika Mondal @ Prime Legal

Ayantika Mondal @ Prime Legal

Notice u/s 13(2) of Sarfaesi Act Notice u/s 13(2) of Sarfaesi Act

I recently received a notice for my loan account with a private bank which they dispatched on 13 May and I received it on 25 May. I received a call from bank person that they will paste notice on my h

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Posted 8 months ago


A. The Bank can not paste the notice under section 13(2) now as the RBI has issued a circular to not declare any property NPA due to prolonged epidemic COVID-19.

Yes you must approach the BAnk through your lawyer and ensure that they do not do this unlawful act.

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Ankur Goel @ Complete Law Shield

Ankur Goel @ Complete Law Shield

Ayantika Mondal @ Prime Legal

Ayantika Mondal @ Prime Legal

Taken Loan From Relative 7 Years Ago Taken Loan From Relative 7 Years Ago

HI Sir, I taken 6 Lakhs 8 years ago, for interest RS. 1.50 (Per Rs 100 Per Month). I paid RS. 3,50,000 in 2016. Now, I want to pay remaining Rs, 2,50,000 But he wants me to pay with interest. I ca

8 Response(s)

Posted 8 months ago


A. He dont have license to charge interest.
so he cant charge interest.
Even last time you paid in 2016 so time limitation of 3 years ended in 2019 until and unless he sent you any legal notice which he not sent due to relationship.

you can cheat your relative.
But others will come to know abt your truth.
So even when you dont have to pay him anything legally, you can pay remaining amount 2,50,000 + 50,000 if you want to.

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Latest Response 8 months ago
Ankur Goel @ Complete Law Shield

Ankur Goel @ Complete Law Shield

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Ankita  Jaiswal

Ankita Jaiswal

Sidhaarth  S

Sidhaarth S

Ceasing of car in lockdown Ceasing of car in lockdown

I am default on car loan for 5 month's, my car repossessed by third party agency forcefully without any notice or call, I requested them that by evening I will pay 2 installments and one more I will

6 Response(s)

Posted 8 months ago


A. Dear Sir,
You may approach Civil Court and restore your car.

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