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How to delay payment of money to lenders
29-May-2023 (In Cheque Bounce Law)
I had a startup and went into losses. Me and my partner also doesn't share an healthy relationship. The lenders are now banging my doors to return there money. I need to borrow time to return all the money. I need to follow a legal way to get me the required time. I am ready to pay the entire amount with interest.
What documents were executed between you and the money lender? There are a number of ways to delay the payment but you have to share the details of the loan for the same. You are required to share the documents and brief
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Adv. Romil Sagar Srivastav
Lucknow | 25+ Answers
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There is no way you can legally buy time from them to clear their dues with interest. However, if they concede to your proposal, you can enter into an agreement with them w.r.t. repayment of debt with interest.
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You cannot file any suit to obtain time to return the dues although when the lenders will initiate legal proceedings against you to recover their dues, you can move a Petition to obtain a reasonable time before the Court concerned.
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Adv. Anurag Garg
Ghaziabad | 25+ Answers
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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 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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