Legal Question in Banking Law in India
personal loan
i have took a personal loan of 60000 from bajaj finance.
but now i m not able to pay this emi of 3098. i have no job from last 4 months.
now in this case what i have to do ?
5 Answers from Attorneys
Re: personal loan
We think that we can help you to solve your affairs forthwith, please send us your documents or write an detailed e-mail in order to notify the circumstance. We checked over the documents thereafter, we will return your added phone number,e-mail or address,as soon as.
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Re: personal loan
If u are unable to pay the loan, if u have no properties, you don't have to worry. If u have properties, the Bank will try to recover the loan by suit. Applying for insolvency is one option. But that would debar u from employment in a financial institution.
Re: personal loan
You shold approach the bajaj finance person and request them to reschedule your loan.
Re: personal loan
you could ask them for time
Re: personal loan
You should sell your assets and pay off the loan as soon as possible;
alternatively, you may make efforts for a settlement with the lender and request them to defer payments.
It is a very serious issue and you may suffer a bigger problem if the matter is not settled.
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