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Seeking Legal Advice for Recovery of Unpaid Loans
12-Dec-2023 (In Recovery Law)
Lent Rs. 6.5L(incl. interest(till now) of loans taken on behalf of him) to a friend, unpaid despite promises. Also victim of Rs. 5.5 Lakhs financial fraud (Reported to Cyber crime department and case in progress). Proposed repayment plans failed. What legal steps can I take to expedite loan recovery, considering friend's assets, without monthly follow-ups impacting my job and mental health? Earn around Rs. 43,000/month, friend earns Rs. 60,000. Thanks.
To recover loan amount and interest from your friend you can file recovery suit before civil court. First you have to send legal notice through lawyer then by seeing the reply you can proceed to file suit. You should have documentary evidence to show the money transaction which you have done to your friend. Coming to your cyber case you have to follow up with the cyber crime police regarding your complaint and verify whether they are able to find out the culprits and recover the amount
Helpful?
Adv. Rajesh K.S
Bangalore | 500+ Answers
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