online loan apps
online loan apps
hello sir, my friend had borrowed loan from one of the online registered loan apps , and he couldn't pay it on time for which they charged high interest and in order to repay that he kept borrowing lo
5 months ago
A. Dear Client
If your friend is being harassed by lenders, they should inform the lenders in writing to stop contacting them. Many countries have laws that regulate debt collection practices, and lenders are often prohibited from using abusive or threatening language. Your friend may file a complaint with the appropriate regulatory authority or consumer protection agency if they believe the lenders are engaging in unfair practices or if the loan terms are predatory
A. Dear Client,
The National Cyber Crime Reporting Portal(NCCRP) is an initiative of the Government of India to facilitate victims/complainants to report cybercrime scams or complaints online and once a cyber crime scam is reported online to NCCRP, on the instruction of Cyber Crime Cell, investigating team started the routine process of investigation immediately freezing the suspected accounts of fraudsters and the victim's Bank account and you have to wait for the completion of the investigation ...ReadMore
Notice u/s 13 2 of SARFESI ACT 2002
what to do after receipt of above subject notice ,i am not able to pay EMI of my home loan in future due to bad financial condition and some house hold loans to repay ,and not interested to keep prop
5 months ago
A. Dear Client, Once the EMI against a loan is not repaid for consecutive 3 times by the borrower for any reason whatsoever, it is treated as NPA. Accordingly, a suit for recovery of an outstanding loan from the borrower is filed by the Bank before a Debt Recovery Tribunal under the SARFAESI Act, 2002. Section 13(3A) of said Act primarily lays down that any security interest created in favour of a secured creditor is enforceable without the intervention of any court or tribunal. As per sub-section ...ReadMore
I am not able to pay any EMIs
I stay in Hyderabad .. Vanasthalipuram have 72 lakhs debt and I lost my job in August. I am not able to pay any EMIs from this month onwards and I started getting reminder calls. I do not have any mon
5 months ago
A. Dear Client,
If your situation is dire and you see no other way out, you might want to consider the possibility of filing for bankruptcy under the Insolvency and Bankruptcy Code (IBC). Prepare all the required documentation, which may include financial statements, information about creditors, and a debt repayment plan. This will be reviewed by the insolvency professional. Once the application is accepted, a moratorium is imposed, preventing creditors from taking any legal action against you duri ...ReadMore
Director of a company
I am a Director of a company, using fake signatures of mine, the other directors took a vehicle loan as one of the gurator
5 months ago
A. Dear Sir,
If anybody lodge complaint then criminal case will be registered against you. Better to close the matter at the earliest.
SARFAESI ACT
Sir A loan account was declared NPA in 2019 and notices under section 13(2) and 13(4) were given and permission from DM was also taken but physical possession was not taken as partial payment was done
6 months ago
A. Dear
If a loan account was declared as a Non-Performing Asset (NPA) and the financial institution followed the necessary legal procedures under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, including issuing notices under section 13(2) and 13(4) and obtaining permission from the District Magistrate (DM), the institution may have the right to proceed with the physical possession of the property if the borrower defaults on the ...ReadMore
A. Dear
Yes, the SARFAESI Act (Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act) can be challenged if there are valid grounds, such as the borrower being mentally ill.
Personal Loan
My EMI due on 05 oct 2023, but got missed due to financial crises, I request to wait for month end, but they give legal notice to pay amount with in 7 days, because of health issue i am not doing my
6 months ago
A. Dear Sir,
Just ignore such legal notice and you can clear all the EMI’s within next few months. You may get issue a legal notice if they again issue second legal notice.
Loan emi payment issue
Sir, I am facing a huge problem in giving my loans amoung. Currently not having job and suffering from medical issue juandice. I am asking 3 months time from the collection agent but they are not givi
6 months ago
A. Dear client,
Under the Provincial Insolvency Act,1920, you can file a petition for bankruptcy if you are unable to repay a debt greater than ₹500. After analyzing whether the conditions for filing of bankruptcy have been met, the court may accept or reject the application. Until the decision on the application is taken, an interim receiver takes possession of the property of the debtor. If the application is admitted, the court can apply a stay on any legal proceedings against the property o ...ReadMore
Loan settlement issues
I had got loan for 125000 from loantap and i paid emi 6 times before corona period on 2020 and 2 years i cant pay due to job loss and on jan 2022 they contacted me through whatsapp and asked me to pay
6 months ago
A. Dear Client,
Once you settled the loan as required by the lender in the year 2022, they cannot send a legal notice asking for further payment to write off the said loan again in 2023 that ultimately leased out a fresh cause of action giving you a scope to litigate the matter before the appropriate forum/court to access justice in the matter. . So, in the prevailing situation. if you possess all the relevant documents like the loan agreement, evidence of payments and relevant text or emails that ...ReadMore
