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Loan Repayment Issue | Lenders threatening


02-May-2024 (In Recovery Law)
Actually this id the case of loan repayment of my friend, he took loan from local lenders on high interest for his business, he has already paid the principle amount. But due to business going down, he's not able repay as of now. However, he's not denying for the payment, he will pay but he needs some time. But the lenders are at his back, they are threatening him badly, not even letting him work. Please advice
Answers (2)

Answer #1
671 votes
We can send them a strong legal notice thereby outlining their conduct. Further, I would advise you to file a cross complaint against those persons for forcing and criminal intimidation and register an FIR against the, so that it might create pressure upon them to
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Advocate Alankrit Bhatnagar 

Adv. Alankrit Bhatnagar 

LawRato Delhi | 100+ Answers
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Answer #2
952 votes
You may seek consultation from an advocate and proceed as per his expert advise. Do get the documentation legally perused by the advocate. Upon your briefing he will be able to guide you legally as to how to go about it. They can recover it legally as per the due process of law but cant threaten you
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Advocate Anubhav Kathuria

Adv. Anubhav Kathuria

LawRatoDelhi | 1000+ Answers
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