Legal Question in Banking Law in India

EMI of personel loan

Dear Sir,

I have taken two personnel loan (2,50,000 each) from ICICI bank. Loan No. LPDEL00012591784 & LPDEL00013734798.

I have to pay approx Rs 16000 pm for EMI. Whereas My monthly salary is 15500. And I have to pay Rs 6000 EMI of home loan also.

Now my financial condition is very week. I don't know how will I manage my family next month onwards.

I have talked so many times and also visited collection office (Rohini) but they are not ready to solve my problem.

I would like to request you to find out way for me so that I can also survive. I will mange to repay upto 9000/month.

Kindly suggest what to do?

Thanks & Regards

--name removed--Sinha


Asked on 3/06/09, 9:40 am

3 Answers from Attorneys
Pranav Desai PD Legal & Associates

Re: EMI of personel loan

You may write an application to the superior of the banks and request them to reschedule your loans.

Other than the above you may not have many options.

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Answered on 3/08/09, 12:29 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: EMI of personel loan

You may better pay all the money you can afford towards repayment of home loan;

the payments for personal loan may be totally stopped for the time being.

Eventually, you may have to file for bankruptcy; but you may be able to retain your house.

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Answered on 3/06/09, 11:39 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: EMI of personel loan

Already Replied

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Answered on 3/10/09, 6:56 am


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