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Gave loan to family friend now he is reluctant to pay, how to recover?


24-Jun-2023 (In Recovery Law)
I HAVE GIVE A LOANS TO FAMILY FRIEND WHICH HE IS NOW RELUCTANT PAY IT BACK NOR HE READY RO SIGN ANY DEED THOUOGH I HAVE GIVEN HIM BY CHEQUE. CAN I FILE A CASE OR REGISTERED COMPLAINT AGAISNT HIM ?
Answers (2)

Answer #1
978 votes
First of all you are not a money lender to give money to anyone, second thing even if you gave, you should have signed some document and taken PDC to secure your loan amount.
You can take legal steps to recover your money. cheating case, recovery case are type of cases which you can file against the said defaulter. Proper advice can be given post referring the documents and facts of your case.

Expert Jurist LLP
Answer #2
777 votes
If you made a payment to your that friend by cheque than you gave right to issue him legal notice for recovery of that amount...
With that for better evidence you should made an ledger account and made an entries of paid amount....

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