Illegal finance

[Shreyadude35]

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Shreyadude35
PARTICIPANT
February 24, 2025 at 4:27 pm

I know someone in my neighborhood who does finance. He gets sale deed of the houses of the poor and if they don’t pay interest for 6 months, he takes possession of the small houses they have. The interest is Rs.10 and so many fail to pay and lose their only houses. Though they agree to pay the amount by selling the houses, he won’t agree and occupy the houses. If police complaints are given, he pays them money and manages. I have seen lot of properties acquired like that from poor. His wife/sister will file cases if needed or take hold of the houses. How can we complaint such fellows anonymously to the concerned officials. Is there no way to stop such atrocities.

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[User_b6df89ef]

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User_b6df89ef
PARTICIPANT
February 24, 2025 at 4:40 pm

😂

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[Poojaknight692]

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Poojaknight692
PARTICIPANT
February 24, 2025 at 4:53 pm

Rs 10??

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[Shreyadude35]

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Shreyadude35
OP
February 24, 2025 at 5:04 pm

Rs 10 per Rs 100.

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[Bravenupur8528]

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Bravenupur8528
PARTICIPANT
February 24, 2025 at 5:59 pm

Correct the post.

Its 10% interest, (compounded probably)

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[Urbanprateek9895]

U

Urbanprateek9895
PARTICIPANT
February 24, 2025 at 6:21 pm

No, its a common term with the loan sharks

1rs interest is 12%

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[Urbanjatin7837]

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Urbanjatin7837
PARTICIPANT
February 25, 2025 at 3:25 am

It’s 120%.10 x 12 months interest for 100 principal. That’s why people are losing the small homes as they can’t or don’t calculate.

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