quesTook loan, now unable to repay it. What to do?

Hi.. From a financer take 2 lakh rupee on interest of 10%.. Few months back.. Becoze of financial crisis no m not able to pay the amoount at a time.. What should i do please help.. As i m a single parent.

  • ansApproach financier and talk to him. Explain your situation and try to re-negotiate the repayment schedule. It will be expensive for both financier or you if he goes to court to recover dues. In the interest of both parties, to settle the issue.

  • Send a legal notice for recovery of dues @ Rs. 1999/- only

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  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Recovery Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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