Legal Question in Banking Law in India

i am having a personal loan of 1L but paying some emis due to serious financial problem i have to stop paying emis but now my financial condition is bit ok and i am wel aware about my debt so i want to start paying emi once again,but bank peaple are saying that i ahave to pay all my loan outstanding in one sort other wise they will take legal action,but i can not pay the amount in one sort but i want to start paying emi once again.My question is that can i take any legal septs so that i can start paying emi once again?can you help me legally in this regard


Asked on 10/27/09, 9:47 am

3 Answers from Attorneys
Seshadri Srinivasan www.lawconcern.com

You can approach the bank through your lawyer for reliefs.

Read more
Answered on 10/27/09, 10:25 am
Seshadri Srinivasan www.lawconcern.com

You can approach the bank through local lawyer for reliefs.

Read more
Answered on 10/27/09, 10:26 am
Pravin Vaidya Independent

Please approach bank with specific plan to clear your dues. Bank must be satified about the source of repayment proposed by you. If necessary take the higher authority of the Bank Branch into confidence and convince them about your bonafide intention to repay the Bank's dues. Please send the written communication after all the meetings with Bankers

Read more
Answered on 10/29/09, 9:33 am


Related Questions & Answers

More Banking Law questions and answers in India