- This topic has 5 replies, 4 voices, and was last updated 1 year, 3 months ago by
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UHello, I need legal advice regarding a loan my mother gave to a tailor in our locality around three years ago.
She used to run a small boutique and needed a cloth cutter. A tailor from a nearby shop used to cut fabric at a per-piece rate. He initially borrowed βΉ5,000 twice (each time for a month) at an interest rate of 5% per month and repaid both times.
Later, he asked for βΉ20,000 at the same interest rate, promising to repay the principal once his bank loan was approved while continuing to pay monthly interest. He also provided a blank cheque as assurance. He paid interest for about six months and then stopped.
Since then, despite multiple reminders, he kept making excuses and eventually stopped responding to calls. My mother has shut down the boutique, and he has neither returned the principal nor resumed interest payments.
Given that we have a blank cheque from him, what legal options do we have to recover the money? Can we take action under any applicable law? Any advice on how to proceed would be greatly appreciated.
Thanks in advance.
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QYou need to sew him.
But seriously, a bounced check is a crime. Speak with a lawyer on the procedure. I believe when you try cash it, and it gets declined – you can take the borrower to court, with the additional paperwork that you have.
But also in reality, the money is not worth the hassle. Any legal remedy costs money.
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UCan I just fill in the amount on the blank cheque and deposit it if I donβt have any written proof of lending? What are the risks?
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QThe account is probably empty. Did you match the signature? Is there a date? Is there an expiry on the cheque?
The account holder may have already reported the cheque as stolen. If you donβt have any documents to prove you are owed money. You may not have a legal recourse this route, but worth trying to cash the cheque.
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