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Money lender threatening to pay back what can be done
16-Jan-2023 (In Criminal Law)
i borrowed 10 lacs from a known person without any collateral or securty.paid interestt for about a year, but now not in state of paying back, as i suffered huge business losses.business not doing well. lender threatening to shout in front of everone at my workplace and also that he knows many known badmaash type guys of my area and few high profile guys of my area to recover money.can he be served a legal notice to not to visit my premises?
Yes you can serve a legal notice but also you have to state about your real inability to pay the debt and also tell him that how much time you need more in order to give him some satisfactory response.
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Adv. Mayank Sharma
Delhi | 25+ Answers
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What is the punishment for money lending?
Money Lenders Act 1961 has a maximum interest rate of 18%. The Karnataka Prohibition of charging Exorbitant Interest Act of 2004 punishes moneylenders who charge interest rates higher than 18%. The moneylender can be punished with a fine of up to Rs. 30,000, with an imprisonment that may last for 3 years or both.
Can we file case against money lenders?
You can file a complaint if the lender is acting in a way that violates the law or regulation.
How do you deal with a money lender?
You should also ask about late fees and interest rates. Check the repayment period so you know when to pay back your loan. It is important to read the loan agreement carefully. Some lenders can be very strict if payment is not made in time.
Dear Sir,
Yes, you can serve a legal notice upon the money lender as well as approach the court seeking an injunction. You have to positively refute his allegations that you are behind payments.
Thanks
Yes, you can serve a legal notice upon the money lender as well as approach the court seeking an injunction. You have to positively refute his allegations that you are behind payments.
Thanks
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Adv. Dheeraj Gupta
Delhi | 25+ Answers
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Well, a legal Notice could go calling upon him to refrain himself from taking up law in hand.
In this regard, a complaint to police may also be given.
But please bear in mind that the lender will take immediately recoource to Legal action I.e. To file a recovery suit against you.
You should be prepared for that.
I would suggest that a legal.notice be issued so that he does not take law in hand.
In court, you may buy time.
In this regard, a complaint to police may also be given.
But please bear in mind that the lender will take immediately recoource to Legal action I.e. To file a recovery suit against you.
You should be prepared for that.
I would suggest that a legal.notice be issued so that he does not take law in hand.
In court, you may buy time.
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Adv. Urfee Haider
Delhi | 200+ Answers
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In your situation which is not really comfortable i would suggest to meet and take consultation. As in your case if you move with a legal recourse such as a legal notice then you would have to pay the money but within a time frame which suits your comfort and does not prejudices the right of lender.
On the threats i would suggest to file a cognizable report in police against the apprehension of harm to you and your property. Before moving ahead do consult first.
On the threats i would suggest to file a cognizable report in police against the apprehension of harm to you and your property. Before moving ahead do consult first.
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Adv. Ramaditya Tiwari
Delhi | 100+ Answers
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You may serve him notice for not continuing the same which he has been doing i.e. threating of goons and defaming you. The legal notice should clearly state not to continue the the illegal practice he has been carrying till now. You may keep some evidence of his acts and complain to police also try to settle down the matter through mediation.
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Adv. Lalit Kumar Sharma
Delhi | 100+ Answers
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Keep a record if you feel threatened or harassed. Notate the dates, time, and other details for each incident. Try to find witnesses that can corroborate... Dear Client, Courts are often overloaded, causing delays in processing new cases and registering them.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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