Anuradha 03 October 2016

Hand loan for interest

Hand loan for interest, I had taken hand loan for interest which is 5 and 10% and the amount is 2,70,000 and given the documents my education certificates, cheque book with 4 leaves signed and an agreement made in reference to loan taken. Due to bad situation have paid 2,65,000 and the balance is 3,20,000 as the interest accumulated. Now ia am trying to get the loan and clear the amount with a break of 6 months not paying the amount. Person keeps telling of going to court though i am ready to repay the amount. May I know what will be the problem because I am helpless in reference to money. Please let me know.

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Adv. K.S.A.Narasimha Rao (legalquestadvisor@gmail.com ) 03 October 2016

You can file criminal compliant of harassment

arpit shukla (,) 03 October 2016

Talk to your bank first , submit written application requesting them to give you more time. Bank has all the right to recover their dues as per the all possible and legally prescribed ways. If they are not violating that rules you can not define the same as harresment, instead bank must have taken blank cheque as security and by depositing the same and it dishonoured , they can file case under sec138 against you and lead you towards criminal proceedings.

G.L.N. Prasad (Retired employee.) 03 October 2016

This is purely pesonal problems and bank is in no way connected as observed in post no.3

All thtese appear more as threats from lender,, as filing suit and resorting to recovery and then accepting a rate of interest reasonable etc., are involved. It is certain, that he will not drag you to the court, once you have paid the amount, and willing to pay.

Hand loan for interest

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