Person taken finance & denying payment & threatening of suicide

A person has taken finance of 3 lacs from us on interest rate of 1.5% in 2012 He has not paid any interest until now and when we ask for atleast the principal amount he says he doesnt have money and threating of committing suicide. he is our close relative we have waited for these many years. he has kept their property (Notary) papers as surity when he took the amount initially. he and his wife both work but not returning our money. We have taken loans for marriage and we have younger daughter yet to be married we are paying EMI's to banks and fallen into crisis unable to pay EMI's if they return money that wil help. what can we do?

Answers (1)

96 votes

First of all send a legal notice and see if they come for settlement of the amount and if they come its one option or not you have to file a suit for recovery of money and you have his papers also, so you can submit same as evidence.

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