Private financier threatening for recovery of money

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 he is threatening us to pay back in coming days but we dont have much money ..whats legal step should i take??

Answers (3)

314 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.

Googling your legal issue online?

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

189 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.

Popular Recovery Lawyers

Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
34 years Experience
Advocate J. P. Rinwa
Swej Farm, Sodala, Jaipur
20 years Experience
Advocate Rajeev Nigam
Kanpur Nagar, Kanpur
27 years Experience
Advocate Rajesh Rai
Sector-19, Dwarka, Delhi
21 years Experience
248 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

Report abuse?

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 and has been responded by one of the Recovery Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Related Questions

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

Related Articles