Legal Question in Banking Law in India
I have two Personal loans(EMIs Rs.20440 & Rs.6845), one Car loan (Emi Rs.6468), 6 credit cards (O/s- Rs 12 lacs) and no immovable assets in my name. The loans have an overdue of 8 EMIs plus overdue charges. I had lost my job during the recession, thus I could not service most of the above. Now I have a job on hand and am earning 50k per month, is it possible to restructure the total liability as a single emi? My Credit report will also reflect a bad score and show delayed payments and overdue.
I seek your advice to tide over my present liabilities without any legal tangles.
I can give you more details on the above accounts should you so require.
Asked on 12/02/10, 4:35 am
1 Answer from Attorneys
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
contact a local advocate
Answered on 12/03/10, 12:42 am
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