Payment and settlement act , section 25
Payment and settlement act , section 25
So due to 8 months of unemployment I had unable to pay the debt and after 3 emi they registered the case on me so , I am now closing my loan fully prior to first hearing . Is there any chance of dismi
6 months ago
A. Dear
Here are some important points to consider:
Jurisdiction: The jurisdiction where a legal case is filed should align with where the loan agreement specifies or where the lender has a legal presence. If the case is filed in Delhi, it should typically be related to the lender's operations or your agreement with the lender.
Consequences of a Case: When a case is filed against you, it can lead to various consequences, including a legal judgment against you, which may result in wage garnishmen ...ReadMore
Credit card - paid my monthly due
I paid my monthly due and my transaction was successful but due to server error or some technical issue, the banks payment gateway didn’t receive the payment. Now the collection manager is asking me
6 months ago
A. Dear Client,
You are absolutely on the right track taking the stand that until and unless you previous payment gets reversed to your account, you will not opt for another payment against the scheduled EMI. In case you are facing repeated calls or harassment from the concerned Bank then bring the matter to the higher authority of the Bank through a written complain to resolve the matter failing which a complaint under the RBI integrated Ombudsman scheme, 2021. shall be made online on the portal ...ReadMore
Hand loan given to friend not giving since 5years
I have given Rs.5Lacs (1.5+3.5) in 2018. After lot of persuasion got 2.25lacs(2+0.25) , remaining 2.75lacs he is not returning back to me. I have bank statements recorded transactions of money sent to
6 months ago
A. Dear Client,
Sorry to say, based on a standalone bank statement that reflects no purpose behind the transaction of money between you and your so-called friend, you cannot recover your lending money from the friend even through litigation before the Court. Instead, in case you opt for litigation to recover the outstanding lending money, you may face backfire from your friend and to face adverse consequences.
Debt recovery issue
My husband took 20 lakhs personal loan and also car loan both on my name. I transferred personal loan amount to my husband's a/c via netbanking. Now he refused to pay EMI of personal loan but wants to
6 months ago
A. Dear Client,
If the personal loan was taken in your name, you are legally responsible for repaying it according to the terms of the loan agreement, regardless of whether you transferred the funds to your husband's account. If your husband refuses to pay the EMI, it may ultimately affect your credit score and financial standing. You can file a civil suit against him for the recovery of the personal loan amount if he refuses to pay. Be aware that non-payment of EMIs on loans in your name can negat ...ReadMore
Online Money transfer to builder
I received OD amount from bank & same has been online transfer to builder for a FLAT but builder given the FLAT to another person on security not giving the possession nor returning amount even I am p
6 months ago
A. Dear client,
If you have transferred the OD amount from the bank to the builder for a flat, but the builder has given the flat to someone else and is not returning the amount, you have legal recourse.
Firstly, take the proof in hand showing the payment has been made.
Secondly, if there is any communication or an agreement that you have signed hen collect that as well.
Both can be used to get possession of the flat.
in another form of recourse, You can send a legal notice to the builder dem ...ReadMore
DRT Case
I was an employee in the company. The company made me a director with 1% share. The company took a loan of 40 lakh and defaulted on the same due to COVID-19. I was unaware of all this as I was not
7 months ago
A. Dear Client,
An employee can be elevated /appointed as Director, by following due procedure of law and a Board of Directors resolution, defining the Remuneration and perks & other benefits, payable under the provisions of the Companies Act. In terms of the Companies Act, a director is an agent, trustee and employee. A director is an employee if he holds a salaried employment and thus enjoys all the benefits which are given to a regular employee. A Managing Director is a director who holds such ...ReadMore
Legal advise for loan recovery in case of loss of job
Hello sir, I have 3 credit cards and e loan running in my name. It's been 6 months I have been laid off by my previous company and since then I am unable to find a new job. Somehow I manged to pay my
7 months ago
A. Dear Client,
Under the Provincial Insolvency Act,1920, you can file 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 or assets of ...ReadMore
Relative asking for money s/he had donated us 2 years ago
2 years ago in 2021. My father had died from COVID, after his death one of of relative might have felt bad and asked for my bank account, s/he then transferred 1 lakh to the said account. Now after 2
7 months ago
A. Dear client,
If your relative had felt bad and given you the money, it could have been considered a gift.
Therefore, if there was no undue influence or fraud from your end, it can very well be contested that the gift need not be returned
Mental torture from private finance
My father lend money rs.3 lakh for business activities private finance.he paid his monthly EMI correctly .but last month my father had an road accident and severly wounded in head also had an brain su
7 months ago
A. Dear Sir,
You have to settle the matter amicably or ask the financial to approach Civil Court by filing money recovery suit. You may lodge a complaint with Police as private finance company unnecessarily forcing you illegally.
Money back from borrower
5 years back I have given my credit card to one of my friend and he used all the credit amount and other than that I have helped him with money also. But till date he is not returning my money which i
7 months ago
A. Dear Client,
Attempt Amicable Resolution: Before involving law enforcement or legal action, you could try to resolve the matter amicably. Communicate with your friend, remind them of the debt, and try to work out a repayment plan.
Formalize the Debt: If you had any written agreements or evidence of the debt (emails, text messages, IOUs, etc.), gather and organize this information. It can be valuable if you decide to pursue legal action.
Legal Notice: You may consider sending a legal notice th ...ReadMore
