Legal Question in Banking Law in India
Personal Loan - Check bounce
Hi
I have taken loan from one bank at chennai and unable to pay due to financial problems and the banker is threatening me to file a nbw for check bounce, pls advise me the solution. I can't pay the loan remaining amount for the next one.
Regards
Prasad
Asked on 1/28/09, 1:38 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: Personal Loan - Check bounce
You will need to make payment if you want to avoid harrasment, litigation costs and penalities. The loan liability is not avoidable.
If you cannot make payment, you may consider declaring insolvency by filing appropriate petition in the court.
Answered on 1/28/09, 8:35 am
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