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Friend charging high interest on the money borrowed from him
06-Sep-2023 (In Recovery Law)
I borrowed money from a friend through his credit card. Initially he told me that he would be charged an interest which i was okay to pay, however the 1.8 lakhs which is borrowed has multiplied to 10 lakhs according to his interest terms. He has been harrassing me and i have been demanding to see his bank statement to prove his claims. However he is not ready. I am sure that he hasnt been paying that interest. How can i pay him the right money as he doesnt have a money lending license and he deceived me into believing that the money has increased to 5 lakhs and later when he said 10 lakhs i began asking questions. How can this be resolved?
you can pay him the amount as per your calculation and make sure you do it through NEFT, cheque of which you can show proof, in case he initiates any legal action against you, you can show the proof in the court and if so any balance is pending as he would have to show his documentation in court can be paid by you.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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