Legal Question in Credit and Debt Law in India

I had a personal loan of 40 k from ICICI bank. I had paid 7 instalments.....rest I could not pay. The bank hasasked me to pay 48 k as part of settlement.......I dont havea job.What is the best course of action.


Asked on 5/16/13, 3:48 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

16.05.2013

Dear Sir / Madam,

The best course of action is to negotiate the settlement with the bank and repay the loan at the earliest.

Regards,

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Answered on 5/16/13, 3:51 am
Jayesh Desai Jayesh Desai

Either negotiate and pay or get yourself declared insolvent, no other option.

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Answered on 5/21/13, 7:59 am


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