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A guy extrotiong money with huge amount of interest and threating fami
19-Jun-2025 (In Recovery Law)
I took a loan of 20000 from a known person on interest of 25%per month it's been 5 months nd I was only able to return 10000 bcz now he is saying to pay 50% interest on it I m 20 year old college student with no source of income still I can pay him 30k more in coming 2 months but he is asking a lot of money like 60k more nd threatens me nd my family
It totally depends on the nature of relationship you shared in order to take up the loan.
Additionally, 25% p.m. interest is something that one can't legally charge. Secondly threatening and extortion amounts to criminal offences.
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Adv. Chanchal Singh
Mumbai | 100+ Answers
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Well, you can lodge a Police Complaint against this person and get this complaint converted into a FIR under the concerned provisions of law for issuing threats to you & your family! Moreover, as there was no contract in place, he could not unilaterally keep on adding interest!
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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Thank you for reaching out. I have understood your concern. Legal matters require careful consideration of facts and relevant laws. Providing accurate guidance depends on understanding the complete details of the issue, which is best done through a focused and professional discussion.
– Adv. Sushant Vichare
Legal Consultant & Advocate
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Adv. Sushant Vichare
Navi Mumbai | 25+ Answers
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