What legal procedure can be taken on non payment of loan amount?

Respected Sir,I would like to get the suggestion on debt issue.In 2015 I have taken Rs.10000 as debt from one person as I was in problem.At that time that person asked me to sign in promissory note for the amount of rent of agriculture land also taken by my father to get the Rs.10000 as a debt.I put the sign and taken the amount.Now he is asking me to pay total amount includung rent also.But i can pay only the amount i have actually taken. Please kindly tell me that can i be sued lawfully by that person for rent amount also.

Answers (1)

233 votes

You have signed on promissory note. 1.Do you have any rental agreement?
2. Your promissory note filled or empty at that time?
If you have rental agreement and filled promissory note , you have the right to sue against him.
If you give the empty promissory note at the time of borrowed, you have less chance to sue against him.
Better to solve the issue with negotiations.
If you filed a case against him, it ll take time, advocate fees, court fees etc applicable. So, better to solve the problem in simple way with negotiations.
Good nyt

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers

Advocate Bala Janaki
330 Thambuchetty Street, Chennai
37 years Experience
Advocate Ravi Jadhav
Koregaon Park, Pune
14 years Experience
Advocate R. Madhuraj
Vanchiyoor, Trivandrum
21 years Experience
Advocate Barkha Bhalla
Banjara Hills, Hyderabad
19 years Experience
Report abuse?

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 LawRato.com and has been responded by one of the Banking / Finance Lawyers at LawRato.com 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 LawRato.com or contact a Lawyer of your choice to address your query in detail.

Related Questions

"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Related Articles