Details On Loan of 10%
Details On Loan of 10%
Hi All One of my frd took loan of 1.5laks from his frd with 10% intrest per month.From Last 7 months he is not able to pay him back.Now he is ready to pay Princpal amount with some times he is not ac... (Bangalore, Karnataka)
3 days ago
A. Dear Client,
Your query suffers from a lack of information to address it suitably. However, be informed that in the absence of documentary evidence showing the ground/reason behind the transaction of money between the parties, no legal remedy is feasible to recover the said money even through litigation. You may, however, serve a legal notice to the friend asking him to refrain from threatening which may work or may not work.
Loan from money lender
I borrowed money from local money lender through a friend. I signed an agreement acknowledging the debt. I am unable to repay now. They are threatening now. I am asking sometime but they are listening... (Dharmapuri, Tamil Nadu)
1 week ago
A. Dear Client,
In India, money lenders are governed by the Money Lenders Act, 1957 in different states. Any individual/organization engaged in a money lending business must hold a license from the appropriate authority such as the RBI or the State Legislature. A money lending license is usually granted by the Revenue Department of the respective state government in compliance with the provision of the Money Lenders Act and the state-specific rules. If any person or a group of persons is involved ...ReadMore
Car loan
My husband took a new car on loan in my name,he left us alone nd went away,I cannot pay the EMI ,the car is kept with guarantor,so he is not giving the car and I talk to the Lender about the settlemen... (Howrah, West Bengal)
3 weeks ago
A. Dear Client,
A Guarantor/Surety is equally liable for repayment of the debt of the principal Borrower and if after exercising all the steps for recovery of debt against the Borrower fails, the Bank takes steps for recovery of debts from the Guarantor attaching the security offered by the guarantor against the loan. Once agreed, a guarantor cannot revoke or cancel his guarantee to the said loan unilaterally which is legally impermissible. Even in the absence of a borrower or guarantor his or her ...ReadMore
Harassment
Credit card agency continuously harassing me, wat can i do... (Kanchipuram, Tamil Nadu)
1 month ago
A. Dear Client,
As per the RBI Guidelines, Banks/NBFC/FI are advised to ensure that the contracts with the recovery agents do not induce the adoption of uncivilized, unlawful, and questionable behavior or recovery process. In the context, reference is invited to (a) Circular DBOD.Leg.No.BC.104/ 09.07.007 /2002-03 dated May 5, 2003, regarding Guidelines on Fair Practices Code for Lenders (b) Circular DBOD.No.BP. 40/ 21.04.158/ 2006-07 dated November 3, 2006, regarding outsourcing of financial servi ...ReadMore
Telegram scam
I have lost 1 lakhs 50 thousand in telegram... (Bangalore, Karnataka)
1 month ago
A. Dear Client,
Telegram investment groups are not safe. Scammers often use them to lure people into investing in fraudulent schemes by impersonating their identities to investors. Before any financial investment in a security and financial company, investors should check the ins and outs of that company to protect their investment from gambling. Telegram scam/fraud refers to any malicious or deceitful activity that takes place on the Telegram messaging app. The types of fraud conducted on the app ...ReadMore
Loan apps harrassment
My brother in law took multiple loans using loan apps. Due to their torture he committed suicide 10 days ago. Now we came to know that the loans are under my sister's proofs and we are unable to pay t... (Kadapa, Andhra Pradesh)
1 month ago
A. Dear Client,
Under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can file an application for bankruptcy if you are unable to repay a debt greater than ₹500. After analyzing whether the conditions for filing for bankruptcy have been met, the court may accept or reject the application. But, in the absence of any property/assets, your insolvency petition may be rejected by the Court. Alternatively, you can try to negotiate a debt settlement on your own if your ...ReadMore
Money not giving
One of my friend ravi asked me to arrange some money I asked one of my friend sanjay to give some to him both were talking togather and they agreed for their conditions and they mutually given the mon... (Bangalore, Karnataka)
1 month ago
A. Dear Sir,
It is purely a civil in nature as such he cannot file any FIR against you. If filed you can get bail immediately and later get it quashed by approaching High Court and then file defamation case against him.
Company absconding and not returning invested amount and monthly payouts
I had invested in a company based in Chennai. There was an agreement that the company will pay me monthly interest and after the agreement end, principal amount to be returned. however, my agreement ... (Bangalore, Karnataka)
2 months ago
A. Dear client,
In situations like this, where a company fails to honor an investment agreement and the management is unresponsive, you can take a few steps to protect your interests and seek recovery. Here’s a recommended course of action:
1. File a Police Complaint:
In Chennai: Since the company is based in Chennai, you can file an FIR (First Information Report) there, preferably with the Economic Offenses Wing (EOW) of the Chennai Police. The EOW deals with financial fraud and investment sca ...ReadMore
DEBT COLLECTION-SALARY ACCOUNT ATTACH
1. I have filed an Original Suit (OS) in district court through a law firm against several banks, as I am unable to make credit card payments due to my current financial crisis. I have requested an in... (Hyderabad, Telangana)
2 months ago
A. Dear Client,
A credit card holder is held personally liable for non-payment of the outstanding amount of the loan/credit card. If a suit for recovery of an outstanding loan from the borrower is filed by the Bank before a Civil Court/DRT, after hearing both parties Court may even pass an order for attachment of immovable or movable property of the borrower for recovery of the loan including attachment of salary account of the defaulter borrower. Until and unless an injunction order is passed by ...ReadMore
Unregistered money lenders
I took 5 lakhs from an unregistered private lender at 5% interest per month mortaging my mothers land deed. I wanted to repay but my mother is suffering from final stage cancer because of which i am i... (Papum Pare, Arunachal Pradesh)
2 months ago
A. Dear Client,
In India, money lenders are governed by the Money Lenders Act, 1957 in different states. Any individual/organization engaged in a money lending business must hold a license from the appropriate authority such as the RBI or the State Legislature. A money lending license is usually granted by the Revenue Department of the respective state government in compliance with the provision of the Money Lenders Act and the state-specific rules. If any person or a group of persons is involved ...ReadMore
