Legal Question in Credit and Debt Law in India

Hai sir, i have taken 200000 cash loan from cooperative society. But i met with major accident and unable to work. Two of my collegues have signed guarantee. I am inable to regular installments and they are charging compound interest for that. Is there any chance that i can repay the amount without compound interest and also my collegues who gave guarantee also should not be bothered


Asked on 3/29/14, 11:26 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

30.03.2014

Dear Sir / Madam,

It lies in your interest to negotiate a one time full and final settlement and repayment of your outstanding co-operative society loan at the earliest.

Regards,

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Answered on 3/30/14, 4:25 am


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