90,000+ Legal Questions Answered

A. 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Under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can file for bankruptcy if you are unable to repay a debt greater than ₹500.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 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 pocket permits ...ReadMore

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icon Recovery of money

I had lent 5 lakhs to a friend just around before Covid Hit. Since the Covid situation was a bad financial hit I gave him enough time to pay me back . It's been five years now and I haven't recovered


A. Dear Client,
Your claim is now barred by the law limitation. The time limit for bringing a civil recovery claim is three years from the day. Suits filed after the statute of limitations has expired will be dismissed. The reasons for seeking the exemption must be specified if the action is filed after the limitation period has expired. As per Article 54 of the Schedule to the Limitation Act, 1963 is 3 years 'from the date fixed for performance or if no such date is fixed, when the plaintiff has n ...ReadMore

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icon Harrasment by RBL Agent

My sister has a credit card of RBL which is not even due but RBL agents are harrassing me and my relatives unnecessarily. I am a reference as RBL agent claimed but they have been calling my relatives


A. Dear Client,
In the given situation, if you are confident with your loan status, you may file a complaint against the Bank to the regulatory authority RBI online on its grievance redressal portal under the integrated Banking Ombudsman Scheme at https://cms.rbi.org.in for a quick resolution to the matter endorsing a copy of the complaint to the concerned financier. The complaint may also be lodged by filing an offline complaint and submitting the same at the Centralised Receipt and Processing Ce ...ReadMore

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icon Harrsment of relative by bank

Any bank is authority to harass my relatives or my customer for my dues


A. Dear Client,
In the given situation, filing a complaint against the recovery agents of the Bank at the local Police Station, a copy of the said complaint should be sent to the concerned Bank. Further, a complaint against the loan recovery agents appointed by the Bank can be made to the regulatory authority RBI online at https://cms.rbi.org.in. The complaint may also be lodged by filing an offline complaint and submitting the same at the Centralised Receipt and Processing Centre (CRPC) at RBI, 4t ...ReadMore

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icon Struck up financial crisis huge debt

sir i struck up financial crisis huge debt of Rs-24 to 25 lakhs from 2013 i have family health issue (father health)till now i managed by rotation but now i am unable to pay all my credit card and per


A. 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 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 pocket permits ...ReadMore

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icon Harrased by Recovery Agents

I have 2 credit cards, both cards has due EMIs. My salary doesn't allow me to pay back and I don't have funds so I can pay them but recovery agents calling me again and again. They are calling my rela


A. Dear Client, Dealing with debt and abusive recovery practices can be very stressful. Here’s how you can manage this situation under Indian laws:

Steps to Take:
Communicate with the Credit Card Issuers:

Contact the Bank: Explain your financial situation and negotiate for a repayment plan or settlement. Many banks offer hardship programs or restructuring options.
Write a Formal Letter: Send a formal letter to the bank’s grievance redressal officer outlining your financial difficulties and re ...ReadMore

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icon amount borrowed didnt return

i have bussiness for past 10 years i gave some machinery for rent to person worth xyz amount that person has returned the rent amount and has also taken debt from me which is also not returned so i de


A. Dear Client,
Since the transaction between the parties was held for commercial purposes, it is considered a commercial dispute, and the remedy lies with the Commercial Court constituted under the Commercial Court Act, 2015. A commercial dispute is a disagreement relating to commerce/business between two or more stakeholders. These disputes generally arise in relation to contract terms and conditions, fiduciary duties or intellectual property rights, and are resolved or settled through commercia ...ReadMore

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icon Debt Collection

I had credit card dues 10 year before while leaving UAE in 2013. Amounts were below 3500 dhs. 3 banks. Will there be a chance of travel ban after 10 year? Still i am getting emails from bank which sho


A. Dear Client,
You need to clear the credit card loans to avoid any legal consequences in the future. You can contact the UAE embassy to seek assistance in case of a travel ban. If required, you can consult an advocate for advice and assistance in the matter.
Thank you.

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icon online course fraud

This is syam sunder Naidu. I have taken a full stack web developer course in JUZZ-IT the course duration is 8 months including projects. The course fee is 35000 in that i paid 5k as registration amoun


A. Dear Client,
The lender cannot force you to make the payment in an unreasonable time frame. You can inform the lender about your financial situation and seek an extension in time. The lender needs to adhere to the established procedure of debt recovery and is not allowed to resort to any unprofessional and abusive means to recover the same. Firstly, you need to contact the concerned bank manager or loan recovery agent and inform them about your financial situation. Further, you can ask for an ex ...ReadMore

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icon International nbfc student loan

I took international student loan for usa study from mpower financing (international nbfc). But because of personal reasons I came back to India but now even after job I am unable to repay my loan. Wh


A. Dear Client,
Firstly, you need to contact the concerned bank manager or loan recovery agent and inform them about your financial situation. Further, you can ask for an extension in time for the payment, restructure of the repayment plan, or alternative methods for repayment. You can also offer offering to pay around 25% to 30% of the outstanding balance in exchange for forgiveness on the remaining amount. The officers will be able to assist you and provide you with the necessary alternatives. If ...ReadMore

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