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Money borrowed form loan shark at 10 % monthly inter
07-Mar-2023 (In Cheque Bounce Law)
I borrowed 1.70 lakh in 2016 @ 10% monthly interest from an unauthorized money lender I gave him blank cheque for security after which I got severe ill and was hospitalized for a month and was unable to find a job till date my question how can I come out of this situation he is telling I have to pay him 9 lakh to clear all dues including interest and principal amount I don't have any money to pay to him now kindly advice.
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Helpful?
13+
13+
Adv. Anubhav Kathuria
Delhi | 500+ Answers
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Hi,
First of all is there any loan document you signed to avail the loan amount?
Has he already got the cheque deposited?
As you intend to return the loan amount you can assure him that and request for extension of time.
You can consult me for further discussion and remedies.
First of all is there any loan document you signed to avail the loan amount?
Has he already got the cheque deposited?
As you intend to return the loan amount you can assure him that and request for extension of time.
You can consult me for further discussion and remedies.
Helpful?
11+
11+
Adv. Kabir Hazarika
Delhi | 100+ Answers
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Did you give him the cheques as security or towards payment? Is there any communication/ corrospondence between you and the money lender? Is there any case he has filed? Is he a private lender? I have other questions to ask before i can advice you.
Helpful?
10+
10+
Adv. Tejasv Anand
Delhi | 100+ Answers
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