Borrowed money and now unable to return what to do

sir i borrow some of rs 2 lakh from one of my known person with out any legal paper work now i am job less and that person put pressure on my family n me now i am v upset ehat i do

Answers (2)

279 votes

Madam ,

Please take note that borrowing money from friends has its own implications. Since , you have gone ahead an borrowed 2 lakhs and cannot pay it back immediately as you do not have a job . I suggest you try and borrow it from a bank and undertake to give interest and pay your due and in the meanwhile I you feel the need of a legal remedy ,please don't hesitate to get in touch with us.

Warm regards

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319 votes

If your borrowed the loan without any paperwork there is no need to worry because the other party has no proof that you owe any money to him. So, he has no basis to proceed against you legally. You shouldn't be worrying.

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