Loan amount not repaid... need to be recovered

JOTHIKUMARAN (Querist) 30 August 2012 This query is : Resolved
Dear Sir,

My Wife's relative has borrowed amount of Rs. 50K for interest of 2% against the promisory note in the year Oct 2009.

He Paid only the 4 month of interest to my wife. After that he had started paying the interest and the principle. We tried to contact him by phone or personally. But there is no positive response and he has absconded.

My wife is much frustrated and she need your advise.

Follow Query

Report Abuse

R.K Nanda (Expert) 30 August 2012
Send a legal notice at his last known address.

ajay sethi (Expert) 30 August 2012
involve family elders . issue of leagl notice will ruin relations .

if he refuses to listen and does not pay then file summary suit for receovery of principal and interest

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries