intrest


if person A has borrowed money from person B on compound interest and for some reason lets say due to financial problems person A is unable to pay interest to B but ready to give borrowed money.....what action can person B take against person A
 
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Retired employee.

Depending on legally valid documents, B can proceed legally for recovery of the entire principle and valid and contracted interest (not abnormal ) and can bring attachment of his property and can proceed for arresting the borrower in case if the borrower is having resources and fails to repay the amount.  It all depends on the resources of B and the discretion of the court, and members can not decide the likely course of action taken by some others.

 
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Lawyer

Discuss with the money lender (B in the instant case) for amicable settlement explaining circumstances for non-payment of compounded interest after refund of principle amount.

Whether A (borrower) has mortgaged any property with B (lender) ?

 
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yes A has mortgaged propery with B but A is unable to pay interest......B can recover his principal amount by selling property of A
 
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Advocate

Is this a test paper?

 
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