Amit Mishra (pa) 01 February 2012

Loan from relative

Respected Seniors,

I took 1 lac loan from relatives by cheq which i paid (1 lac)back after 5 yrs by cheq itself

now relatives are harasing for 25-30% annual interest also..

i didnt sign any contract nor any cheques were given

what should i do against such harasment

(Guest)

Dear Sonam,

I guess you shouldn't respond to them as loan was neither for commercial purpose nor any contract was signed..

Also demading 25-30% interest p.a is unjustified.

Regards,

Rita Paryani

1 Like

Shantanu Wavhal (Worker) 03 February 2012

on moral front = paying some interest is justificable.

harassment for 30 % is extortion.

ignore them - u r not legally bound to pay anything extra, as u have not signed any such formal agreement.

Amit Mishra (pa) 03 February 2012

thnx rita...

thnx amit..

Shantanu Wavhal (Worker) 03 February 2012

Never mention