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Loan taken from neighbour asking to pay immidiately what to do
16-Aug-2023 (In Banking / Finance Law)
I brought a loan of 2 lac from my neighbour in 2011 interest @ 36% per annum and i paid interest untill 2013 after that i not able pay that interest. that person is forcing me pay the loan with interest till today I told him that i will pay after selling my land and he is not listning my words .is there any wat to solve this problem?
You are not paying for more than 3 years so it is time barred debt . You need not pay for it. You file a civil suit not disturb your peace full life for the loan taken. Get a breathing time and settle the case.
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Adv. Satish Kumar
Chennai | 500+ Answers
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