LawRato

Private financier threatening for recovery of money


19-Mar-2023 (In Recovery Law)
My father and brother borrow a loan from a private financier of rs 9 lac in which 7 lac in cash and 2 lac by cheque and he has signed white blank paper..signed cheque of my father and brother and property paper ..now he is threatening us to pay back in coming days but we dont have much money ..whats legal step should i take??
Answers (3)

Answer #1
931 votes
If you have taken a loan from him and if he had all those things as mentioned then you have very little space as he can use all these things against you in court and recover his amount the only recourse against him is a complaint/fir against him for criminal intimidation u/s 503 or 507 IPC. but as you have taken a loan then it's better you sld settle the matter out of court in an amicable way if possible.
Helpful? LawRato12+ LawRato
Advocate Ravi Ranjan

Adv. Ravi Ranjan

LawRato Delhi | 25+ Answers
Chat with Advocate Ravi Ranjan Chat 
Answer #2
582 votes
No one can threaten anyone for the sake of it. Let him send a legal notice In its reply you must Witte everything in detail that how he had made you sign on blank papers and your property and other assets are with him as mortgage which shall not be the case without a proper agreement. For further , I need to know the exact details of the amount taken and the recovery time and papers signed and given to him Feel free to contact me.
Helpful? LawRato14+ LawRato
Advocate Tanu Singhal

Adv. Tanu Singhal

LawRatoDelhi | 25+ Answers
Chat with Advocate Tanu Singhal Chat 
Answer #3
911 votes
There are so many legal option with you. First you need to contact good lawyer for the same and take his advice and do accordingly as per his advice and I can right now only advice you not to accept loan amount
Helpful? LawRato11+ LawRato
Advocate Shashi Bhushan Jha

Adv. Shashi Bhushan Jha

LawRatoDelhi | 50+ Answers
Chat with Advocate Shashi Bhushan Jha 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.

Report abuse?

Connect with top Recovery lawyers for your specific legal issue
Connect with a Lawyer
Comments by Users

No Comments! Be the first one to comment.

"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

All Answers

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

LawRato