what is the law concerning contracts and fees sent for a service?

Aug 24, 2009 in Commercial Mortgage FAQ

I signed a commercial loan contract with a lender/broker, i gave 2900.00 to the lender/broker after signing the contract. Now they will not give me any money back since they say the loan didnt go through and the 2900.00 was for them to "process and package the paperwork the loan which fell through. What should i do?

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One comment

V.T.V.RAM on August 24, 2009 at 7:09 pm

The transaction is covered under the Law of Contracts !
If you are in India, you can file a complaint before the Consumer Court(Legally known as District Consumer Disputes Redressal Forum) for deficiency in service and claim the amount and also claim damages for mental agony caused on account of the lender. The court fee is only Rs 100/- and remedy is fast !!.

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