Remedy from kandu vatti financier harassment

Originally posted by : sr
	We have borrowed loans to an extent of 6.95lakhs from a lady financier at a heavy interest of 5%Per month..till january we have paid interest and principal repayment to an extent of rs.5.3laks now suddenly she is demanding full amount to be settled and harassing us for past one month,we have been asking 6 months time which she is not giving and created all kind of problems and blocked all our business sources.. she is holding blank stamp paper,blank cheques and loan document signed by me and my wife, which she can misuse against us..she has abused us in front of our staff ,neighbours etc. causing trauma ,,mental agony,abetting suicide  what is the remedy available for us ? can we file a case under TN exorbitant interest act (kandu vatti) despite my business total loss have paid back 5.3 lakhs..pl guide me as to how i can safe guard my family and what case i can put on that lady don??

Your contention is I have paid so much interest till now, already paid back part of principal amount.  Why should I pay the rest.

This thinking is not fair.

Once you take loan, you have to repay.  Chances are these financiers easily pick up girls women and keep them with them and interest vasool till you dont pay principal.

I think you know all this already.  You look like educated.  You taken money on loan, repay it is your dharma and karma.  You can file some silly case on financiar. But only you will be at loss, the financiar has grip on your balls and you want to wrestle with her?

You go to some lawyer, they will ensure you pay more money than what you would have otherwise have paid to financier.  Plus you are wilful defaulter.  God should save you.

If the debt amount is huge, then be ready to face legal action. You will have to start appearing for court proceedings.
Remember money is not free. And everyone has right to recover the money and so has the lender. And irrespective of the reason for default, you are likely to face  unavoidable consequences.Better sit to gether and settle the amount instead of going around the courts.