618+ Lawyers are online 
How to settle on principle amount of loan when not able to pay
31-Jul-2023 (In Civil Law)
Mortgage land rupees pay process i am mortgaged my land of one accord on 22-06-2015( for rupees 1,50,000) with a moneylender. they give to me a legal notice to clear that amount with interest. now i am very poor i can't pay that total amount so i want to clear only total amount without intrest. is it possible?
Keeping the legal proceedings aside as you have been served a legal notice, you may negotiate with the moneylender and explain the situation and further establish your intention to clear the principle amount given your scenario.
Helpful?
11+
11+
Adv. A. Shivani
Hyderabad | 25+ Answers
CONTACT NOW
It is not possible when the property mortgage with the money lender without paying the total amount. Please find that the mortgage is simple mortgage or conditional mortgage. Then you can approach a lawyer and give full details of your case and he can file a suit seeking to waive the interest and ready to pay the principal amount. But not sure whether the court accepts or not. The court on the merits comes to concludes and pass an order or you can negotiate with the lender and settle.
Helpful?
23+
23+
Adv. Goturu Krishna Rao
Hyderabad | 50+ Answers
CONTACT NOW
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.
Connect with top Civil lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
