Took loan from friend paid interest but now he is threatening me

Dear Concern, Iam from Mumbai I had taken a loan from one of my client of 3 Lac Rs at March 2014 with 5% rate of interest. He is not authorized money lender. From March 2014 to March 2018 every month I am paying a 15,000/- Rs as an interest. Till now I had paid 7.20 Lac Rs as an interest. This money lender abuse me if any month I got delay in making payment and also threatening me that he will come to my place and make noise in front of my neighbors etc but now my financial condition running from little bad. So I have decided not to pay any further amount to him. So I just want to know in that case how can I come out should I take help of police to make complaint against him as he is not registered money lender and I had paid more than which I had taken. I had complete bank statement which is showing my whenever I had made the payment to him.. He had take a cheque of Rs 3 lac without mentioning the date as an security.

Answers (1)

312 votes

He is not a license money lander. How he had given the loan amt to you have you signed any document and if you are a tax payer and file the return than definitely you must have shown loan in your account in his name, and if you have done this than you have to pay .

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