Legal Question in Banking Law in India

sir/madam,

I got 49000/- personal loan by bajaj finance feb 2914 and I have paid emi (2382/-) regularly till days but I have lost my job before 4 month and I cant arrange emi next 3 month and current emi bounce also. I can paid all remaining loan amt in December 2015.

so what happen with me?

what is legal process of bajaj fin.?

can bajaj fin. FRI on me? plz advise me.

ravi


Asked on 6/26/15, 4:37 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

27.06.2015

Dear Ravi,

You should meet the concerned Customer Credit Control Manager and explain your situation and seek renegotiation of your personal loan repayment schedule. Yes, as a defaulter with a bounced cheque, the Finance Company can file a recovery suit against you for cheque dishonour as per Section 138 of the Negotiable Instrument Act, 1938. The Finance Company is also entitled to lodge an FIR against you as a defaulter.

Regards,

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Answered on 6/27/15, 4:25 am


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