What are my legal options for loan recovery issues?
What legal options are available for resolving loan recovery or loan-related disputes?
Dear Client, Assuming you are the debtor, it would be advisable for you to initiate a mediation process with the lender. During the mediation process, you can promise to pay a certain sum, and once you pay the said sum, you can request them to grant you an extended time to repay the outstanding amount. I hope this was helpful. For further queries, please do not hesitate to contact us. Thank you.
If a lender is recovering a loan or there is a dispute, first review the loan agreement for terms. Attempt amicable settlement or negotiation. If the lender violates terms or engages in illegal recovery, you can file a civil suit in consumer court or civil court to protect your rights. For further legal assistance contact us on our helpline number.
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