Unlicensed money lender harrasment
Querist :
Anonymous
(Querist) 28 December 2023
This query is : Resolved
Hi Team, My father aged 62 years taken loan from unlicensed money lender 15 years back for the business around 10.5lakhs and initially paid hefty monthly interest only, later stage due to good relationship and on time interest payment he reduced the interest rates, and in 2021 my father gave promissory note for the same amount, but unfortunately recently that person died due to medical conditions, now his wife calling my father and putting pressure to repay the principal + interest within 6 months, he told its not possible due to no business from few years and i try to repay monthly 20-25K and settle within 4-5years, but she is giving us torture and not understanding, she said she will handover the loan to someone else like threatening, that those guys will collect in their way, telling us to sell some property and give it back, recently i took a home loan and constructed the house after 32 years, i asked my father to approach a lawyer, please suggest legal ways and provisions to protect our family, since my father 5 years back recovered from paralysis and i don't want something again happens to him.
kavksatyanarayana
(Expert) 28 December 2023
Ok, your father's health is important but your father or you shall repay the loan amount. Her husband knows your father's situation but he is not here. So you try in amicable settlement to repay the loan in some instalments/your possibility otherwise, she may file a case against your father.
Querist :
Anonymous
(Querist) 28 December 2023
Hi sir, we are ready to pay the loan installments in installments, but she is forcing us to pay completely ASAP which is not practically possible in our current situation, cant we send any legal notice to her suggesting our frequency of payment and stop harassments before she goes to court .
T. Kalaiselvan, Advocate
(Expert) 29 December 2023
You can request her to either allow you to repay the loan amount gradually by installments or to take legal action through court.
Once she files a case in court you can borrow time through court for settlement.
Advocate Bhartesh goyal
(Expert) 29 December 2023
She can't recover loan amount forcefully or through illegal manner.you may issue notice and ask her to stop such unlawful activities else legal action will be initiated against her.
Querist :
Anonymous
(Querist) 19 January 2024
Thanks experts for your advice, we were sceptical to issue the legal notice to her tried to convince her, but yesterday again she called my dad kind of threatening payback 2 lakhs per month and close it, otherwise she knows someone who can mediate the talkings or file a case, she mentioned that the case will be favour on her side, so finally I informed my father to consult a lawyer and issue notice to stop bothering him and taking unlawful activities and take legal measures if needed. Hope we are doing the right thing
