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Borrowed 10 lakh 10% interest without proof no money now what to do
17-Jul-2023 (In Banking / Finance Law)
Hi, my mom has taken close to 10 lakh rupees with three ladies with a interest of 10 %. She had paid interest for morethan 2 years without our notice. Now she has attempted for suicide without informing us. There is no proof for borrowing the money and we have paid more than principle amount in the form of interest. Can they complain against us without proof. We have don't have money to pay now helpless. please suggest something
It is indeed sad that your Mom got into vicious circle of lenders. Little bit of courage and with the assistance of lawyers you can come out of the problem. First of all never admit your liability , so that the burden will on the lender to prove loan transaction including interest part of it.
Any way full facts will help us to give clear picture and about legal support .
Any way full facts will help us to give clear picture and about legal support .
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Adv. N Dinesh Rao
Bangalore | 100+ Answers
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