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Need a lawyer opinion on how to do loan recovery
18-Jul-2026 (In Recovery Law)
I took money from one of my friend and gave it to the other as loan as he needed it, through bank transfer and he agreed to pay interest as well, the interest agreed was 5k per month. He promised to pay the money back in two months with interest, I've whatsapp chat for that. Now it's been seven months and he paid only 21.5k rest of the amount is outstanding, i agreed for lower rate of interest and said pay as per 4k but now he's not even receiving my calls.
agriment kia tha kya apne amount ka ya apne chaque lia tha kya uss vyakti se agar stamp pe agriment kia ho ya chaque lia h to chaque bounce hone pe advocate notice nikalva do or court me pitition file kr do NI act k according.
Helpful?
Adv. Prabhakar Singh Rana
Guna | 5+ Answers
Chat
Based on the facts stated, you have a valid legal remedy for recovery of the outstanding loan amount. The bank transfer records, WhatsApp conversations acknowledging the loan, and evidence of part-payment can be relied upon to establish the transaction. You should first issue a legal notice calling upon the borrower to clear the outstanding dues within a reasonable time. If there is no compliance, you may file a civil suit for recovery of money along with applicable interest. If it can be shown that the borrower had a dishonest intention from the very beginning, appropriate criminal proceedings may also be considered based on the available evidence.
Helpful?
Adv. Kamlesh Manwani
Indore | 5+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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