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Gave loan to friend but he is not willing to pay how to recover money


10-Oct-2023 (In Recovery Law)
one of my friend took loan from me and he said i will pay u in full. n i did nottery of it also. but now he is telling that i can give u in installment . because of his financial condition r not good. ccan i file case againt him or not .
Answers (2)

Answer #1
749 votes
Dear sir, As you have an agreement/ papers which are duly attested by a notary which is a proof that you lent the money to him. yes you can file a suit for recovery of money against your friend. but if he is ready to pay through installments you can get another agreement signed asking him to sign it and the duration in which he can pay you the amount.
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Advocate Siddhant Sharma

Adv. Siddhant Sharma

LawRato Delhi | 5+ Answers
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Answer #2
916 votes
Dear sir, firstly get legal notice issued to him so that you can keep claim alive. Then keep accepting whatever you receive since approaching to Court and realize the amount takes very long time. I suggest you to initiate sweet talks and recover the amount and also simultaneously issue legal notice claiming the amount. See if you could get blank cheque from him.
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Advocate Sunil Kadam

Adv. Sunil Kadam

LawRatoMumbai | 25+ Answers
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