Hi my husband borrowed money from a money lenders for health issues of my father in law for which he was charged hefty interest such as 10% per month he gave her blank cheque as a security. He has paid him interest amount every month from then but now we are in severe financial crisis and not able to pay him so we requested him to please compromise and take a small amount as interest and consider the previously paid money as the principal amount but that person is giving us threat if going to court on the basis of that blank cheque. Please guide me what should we do to avoid any problems as already in a very bad financial position and don't want to waste more money anywhere else.
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See if the blank cheque is given as security as still not bounced also there is no record of the loan then a FIR can be filed that you list few signed cheques and further give a stop payment of said cheque before the bank along copy of FIR.
There is a chance even money lender goes to court for cheque bounce case you may have some defence.
- What do you mean by blank cheque i.e singned or unsigned.
- If, unsigned , then no law there to recover amount from you.
- If, you have given a singned blank cheque , then that money lender will bounce the same after mentioning his desired amount , and further can proceed for recovery the said cheque amount.
- If, you are having some proof with you , that the said cheque was given for security purposes , then he cannot recover any amount from your husband as well.
- You are suggested , to lodge a complaint against the money lender , with the local police and higher official , for harassment , and threatening to use the security cheque, and further forwarded the copy of the said complaint to the bank for a stop payment .
- Further, on the ground of the said complaint , you can file a Decleration suit , for declaring the said cheque as null and void .
- Before taking the legal steps against your husband , that money lender will send you a demand notice of the amount , hence, you are advised to reply the same as per your complaint lodged with police.
1) do you ha e copy of blank cheque given by you
2) issue legal notice to money lender to return the blank cheques given by you
3) mention that loan has been repaid with interest and yet cheque’s not returned
Kindly complain against that person in the police station that taking heavy interest does he has money lenders license to run such business in your area.
If he does not have any license to run money lender business than make complaint that forcefully took blank cheque or give lost cheque complaints police station and that money lender has blank cheque.
Same give information in bank also lost cheque blank with signature.
To avoid or challenge the future cheque bounce case which the lender may plan to file against your husband based on the blank cheque, your husband can silently issue a letter to the bank stating that he has lost the duly signed blank cheque hence if anyone presents the same for collection, it may be dishonored.
Simultaneously he can lodge a complaint with the police also about the lost cheque.
Let him secure the documentary evidences in advance and then allow the lender to take any action in this regard, you can challenge the same properly before the court during trial proceedings.
For the present if the lender is not agreeing for any compromise, you may adopt the suggested steps to protect your interests.
You must be having receipt of payment already paid ?
Do this money lender has valid lending license ? If don`t have than even if cheque bounced, cannot file case. And you are only liable to pay principal amount that also on order by civil court.
in my opinion, amicably settlement with money lender is the only best solution.
You should give NC to police regarding lost cheque and then refuse the lender to pay money.
Let him present the cheque in court it will limit your liability by amount for which cheque will be filled by lender.
You need to prove the same in trial there is no other way. You need to prove him money lender
