Legal Question in Credit and Debt Law in India

i had taken persnal loan which was not paid by me due to finance problems.bank say me for paid fully loan amount with in week otherwise they are file the criminal complaint in court.now my situtation not so good this time for repay total amount.pls tell me if i can pay their loan amount before same emi .and also tell me can i apply for anticaptroy bail through court before the filling legal action against me?


Asked on 7/11/13, 2:28 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

11.07.2013

Dear Sir / Madam,

You need to approach the Bank to check whether they are willing to accept repayment of the outstanding loan in Equated Monthly Installments (EMI's). If they do not agree, you will have to pay off the entire loan amount outstanding, to avoid criminal proceedings being initiated against you by the Bank. No Court in India grants anticipatory bail before a case is lodged.

Regards,

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Answered on 7/11/13, 3:05 am


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