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Unable to pay money back took in cash what action can be taken
11-Aug-2023 (In Cheque Bounce Law)
Can check bounce would be a problem legally if we are unable to pay back the money lent in cash from a loan shark ?(@4% per month interest) Can we take any actions in advance before the party do anything wrong to us legally?
Dont worry for sure all assistance would be given to you and if you are right from your side your all right would be restored and protected .Under the legal recourse & procedure and for any further information please feel free to contact me and fix an appointment with me.
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Adv. Shaifali Gaur
Faridabad | 100+ Answers
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Kindly look into your loan agreement to see if the terms and conditions comply with the State Laws on money lending. If it does not as say for instance the rate of interest is higher than the maximum allowed then you may take action against the loan shark under the Act. If you have already issued a cheque and it has bounced then in all likelyhood you should get a legal notice from the party. Take help of a lawyer to respond to it and also initiate any action if a case is made out.
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Adv. Rohan Mittal
Panchkula | 200+ Answers
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hi..
yes check can create a problem to you if unpaid and you can take action only if you have took the loan from any unregistered organisation or any person not registered to carry on business of lending and depositing and no party can create an interest of 4% per month but you have to proof this without any doubt .
thanks
regards
Adv. Puneet Sharma
yes check can create a problem to you if unpaid and you can take action only if you have took the loan from any unregistered organisation or any person not registered to carry on business of lending and depositing and no party can create an interest of 4% per month but you have to proof this without any doubt .
thanks
regards
Adv. Puneet Sharma
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Adv. Puneet Sharma
Faridabad | 200+ Answers
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