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People harassing father for loan amount already paid more interest
15-Mar-2023 (In Recovery Law)
Without the knowledge of our family members my father (we two daughters are married since 13 and 8 years) had lost all money in share trading. He had borrowed money from a private finance at an interest of 2.5% by signing a blank cheque. Now he is a pauper. He is a retired government employee earning a pension of Rs. 23000 per month. He has to pay 15000 per month to the above said finance and apart from that he has to pay another 17000 Rs to various others. He can't pay the principal.He has paid interest more than the principal amount. father issued blank cheque now they are harassing him
Your father needs to pay back the amount that he borrowed from the financial institution. You can approach the financial institution and they can provide a better payment plan. They cannot use illegal means to recover the amount. For any harassment from the financial institution you can file a complaint against such financial institution.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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