Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
If your friends are doing a business of lending without registration then you can file a case against them. However, if it is just a one-off case then your case will not stand. However, if they are coming to your home and threatening you, you can file a criminal intimidation case against your friends in your local police station and if they repeat the...
Wazzeer Professional Network
ProfessionalHi Sir/ Mam, I was in a financial crisis and had borrowed money from friends, and they lent me INR 1,05,000 and they charged me 10% interest per month. I paid interest for 7 months. And then I paid them 60,000 and said I won't be able to pay them any money either as interest or principal at I am feeling have already paid them totally 1,30,000. Things thereafter got fussy.
Now I seriously don't want to pay them single rupee as they have already earned their principal and even 4% interest to their principal. But now they are threatening to come to the home and create an issue for money. I am planning to sue them in court for three reasons, please help me understand if the following viable: 1. They are charging me 10% pm interest which is very high. 2. They are not registered lenders and cannot lend me money, but still, have done it. 3. They are threatening me and abusing me. Please advice me if I can do this if they really create an issue at my residence
-
Wazzeer Professional Network
ProfessionalIf your friends are doing a business of lending without registration then you can file a case against them. However, if it is just a one-off case then your case will not stand. However, if they are coming to your home and threatening you, you can file a criminal intimidation case against your friends in your local police station and if they repeat the act even after filing of the complaint the police are duty bound to arrest them.
We can help you in this matter, to take this discussion forward, all you have to do is ->"Get Started"
almost 5 years ago
View answer
Hi Sir/ Mam, I was in a financial crisis and had borrowed money from friends, and they lent me INR 1,05,000 and they charged me 10% interest per month. I paid interest for 7 months. And then I paid them 60,000 and said I won't be able to pay them any money either as interest or principal at I am feeling have already paid them totally 1,30,000. Things thereafter got fussy.
Now I seriously don't want to pay them single rupee as they have already earned their principal and even 4% interest to their principal. But now they are threatening to come to the home and create an issue for money. I am planning to sue them in court for three reasons, please help me understand if the following viable: 1. They are charging me 10% pm interest which is very high. 2. They are not registered lenders and cannot lend me money, but still, have done it. 3. They are threatening me and abusing me. Please advice me if I can do this if they really create an issue at my residence
-
Wazzeer Professional Network
ProfessionalIf your friends are doing a business of lending without registration then you can file a case against them. However, if it is just a one-off case then your case will not stand. However, if they are coming to your home and threatening you, you can file a criminal intimidation case against your friends in your local police station and if they repeat the act even after filing of the complaint the police are duty bound to arrest them.
We can help you in this matter, to take this discussion forward, all you have to do is ->"Get Started"
almost 5 years ago
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.