Unsecured loans

Querist : Anonymous (Querist) 17 November 2018 This query is : Resolved
I have taken 6.5lakhs from Fullerton finance
I havepaid my 7-8 EMI on time but due to higher interest and loss in business i am unable to.pay them
Can you how should i vet rid of them
I don't have money to pay the
Please help me

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Guest (Expert) 17 November 2018
Have you given any Post dated cheque or plain cheque if No you are safe to some extent and even in future do not give any cheque for harassment. Discuss with local Advocate in detail and proceed as per his advise.

Advocate M.Bhadra (Expert) 17 November 2018
If you have issued any security cheque at the time of granting loan then they can file a case u/sec.138 of the N.I.Act.,otherwise they can file a Money Suit to recover the loan amount. But for time being relief you can file a Suit for Declaration in a civil court and also file a Insolvency Case in District Judges Court.

Dr J C Vashista (Expert) 18 November 2018
1. Anonymous author is not obliged by experts as per rule of this platform.
2. You are a defaulter in payment of dues of lender, the lender has a legal right to claim and recover the amount. No way out, face the consequence if you fail in compromise with lender.

Sudhir Kumar, Advocate (Expert) 18 November 2018
repeated

K.K.Ganguly (Expert) 18 November 2018
1. Law does not allow anybody to get rid of his loan repayment liabilities.

2. Had any such legal provision would have been there, I would have tried the same.

Kumar Doab (Expert) 18 November 2018
Pls don’t post as AQ and post with your ID and you can get many responses.
Your ID does not mean your email id or phone number etc and don’t post these.
Before attaching any document erase all names, logo, email id, phone number, address etc to maintain confidentiality.
Obtain proper legal opinion in writing from LOCAL counsel specializing in concerned field of law.

Kumar Doab (Expert) 18 November 2018
You have borrowed and should pay back.
Lender is unwilling to forgo IT's rights to recover.

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