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Prathyusha Golla   09 January 2021

Social Responsibility- Please respond quickly

Dear Experts,

one of my friends approached for loan. Actually he is in urgent need and I'm also ready for the help. but my friend as one acre land which is also in the name of Late.Grand father and he has 2 brothers.

Can someone suggest the best possible way to help him by giving money. I mean what are the legal docs or what are the things I need to take before I give the money.

Note: I'm ready to help but I don't trust on his repayment capacity.

Thanks


 7 Replies

SHIRISH PAWAR, 7738990900 (Advocate)     09 January 2021

Hello,

You can direct your friend to go to the bank and apply for a loan. Bank will sanction and disburse loan as per their criteria and their cibil score. 

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     09 January 2021

AGREE with above Experts Advise.

Keep Smiling .... Hemant Agarwal
VISIT:  www.chshelpforum.com

Prathyusha Golla   09 January 2021

Excellent, but bank is not ready to sanction him a loan. LG 1

K*At

Isaac Gabriel (Advocate)     10 January 2021

Better keep away without taking risk.

Prathyusha Golla   10 January 2021

Thanks for the reply sir, This is life issue. so I thought of helping him sir. so kindly let me know what are all the docs I need to seek from him.

G.L.N. Prasad (Retired employee.)     10 January 2021

If you wanted to help him nothing can stop you.  Contact a local advocate and get such documents that are legally enforceable if the borrower fails.  Obtain blank cheques with his signature, for protection of your money and let their own family members (legal heirs) sign the documents as co-obligants.

1 Like

Prathyusha Golla   13 January 2021

Given loan by writing up on stamp paper

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