What should I do if I am unable to repay the loan and interest amount
15-May-2023 (In Banking / Finance Law)
I give cheque to a person for security and I promised him that I would give 10000/- per month but for four months I failed to pay now he is threating to file a case against me what should I do I am not able pay further I don't have any property that total amount was 1600000/- lakh I paid 110000/- upto now he is therating me now please suggest me.
Hi,
Sorry for delaying answer because I am suffering from fever last 4 days.
In your case I am unable to understand the type of loan. You are not mentioned complete details like loan type, private loan or bank loan?
Time , interest rate, relationship,and other details. Please mention all the details for better advice. Please send me all the details through mail .
Have a nice day
Sorry for delaying answer because I am suffering from fever last 4 days.
In your case I am unable to understand the type of loan. You are not mentioned complete details like loan type, private loan or bank loan?
Time , interest rate, relationship,and other details. Please mention all the details for better advice. Please send me all the details through mail .
Have a nice day
No need to worry about this situation, there are many solutions for this kind of problems if they file a suit against you in any of the court you can face it with insolvency petition in return for that you need to have an advocate. or else you many have to go to the party and try to arbitrate with an influential advocate.
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
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