Team Legistify | Legistify

Team Legistify
Answered on 22 Oct 2019

If you have other assets, you have to pay the credit amount from those assets. However, if you have no assets or cash, you can file for insolvency i.e. financial inability.Read More

Posted on 18 Sep 2019 | 1 Answer

Mohim Roy | Legistify

Mohim Roy
Answered on 22 Oct 2019

You can send a legal notice to your friend for the same. Although, I'd ask you to talk to him/her for the same before sending the legal notice to get back the remaining EMIs.Read More

Posted on 21 Oct 2019 | 1 Answer

Karishma Pandit | Legistify

Karishma Pandit
Answered on 20 Oct 2019

He should file an application under Order 7 rule 11 by sating that the present suit is time-barred by limitation. And even after that if the arbitrator doesn't dismiss the suit he/she moves to the high court or a competent court.Read More

Posted on 13 Sep 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 20 Oct 2019

You can file an application with the civil court to declare you insolvent. You need to submit the proof that you have no assets to repay your debts and must be declared insolvent.Read More

Posted on 23 Sep 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 20 Oct 2019

Yes, you can file a debt recovery case against your friend on the basis of the cheques and promissory notice you have. Consult a debt recovery lawyer to file a case.Read More

Posted on 13 Sep 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 20 Oct 2019

If your default is more than 30-90 days, the bank may initiate a DRT case i.e. debt recovery case in the DR tribunal by considering you a bad asset. The tribunal may order attachment and auction of your property for the bank to recover its loan amount.Read More

Posted on 23 Aug 2019 | 1 Answer

Riya Chopra | Legistify

Riya Chopra
Answered on 19 Oct 2019

It would have been more helpful if you would have mentioned the mode through which you made payment to the Agent. In case you have made the payment through cash and have lost the receipt then there is no way you can prove it to the court that you paid the dues. The best way out for you would be to settle with the finance company outside the court.Read More

Posted on 11 Sep 2019 | 1 Answer

Saachi Khurana | Legistify

Saachi Khurana
Answered on 19 Oct 2019

In this case, if the company is not paying back the loan you can send a legal notice from your end. If the legal notice is not acknowledged by the other party then for recovery of amount civil suit can be filed in the court.Read More

Posted on 11 Oct 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 14 Oct 2019

if you had borrowed the money under the relationship or friendship and he charges the interest, in that case, no legal action is required. But if you borrow the money from any person who took security from you and he had no license, he will be considered laundering money and a complaint can be filed under the money laundering act with the help of a recovery lawyer in India.Read More

Posted on 11 Oct 2019 | 1 Answer

Riya Chopra | Legistify

Riya Chopra
Answered on 12 Oct 2019

Yes, you will be considered a defaulter as you crossed the final date of payment. Hence, penalties as per the agreement and terms of service will be applicable.Read More

Posted on 10 Oct 2019 | 1 Answer