Legal Question in Credit and Debt Law in India

Hi, I tool a loan from bank and missed one payment. Now yhry have filed section 420, 408 and 138. Is it possible that banks file cases for missing one payment. I made 7 payments regularly and missed just one. I am pregnant and lost my job. I asked thrm for sometime to make the payments or for a settlement and they filed these cases. Can you let me know what I can do next.


Asked on 11/10/15, 2:53 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

10.11.2015

Dear Madam.

You should file your reply to the cases lodged by the Bank against you and explain the reason for missing one installment with an assurance to the Bank that you are committed to repay and settle the entire loan amount due to the Bank.

Regards,

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Answered on 11/10/15, 3:47 am


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