Legal Question in Banking Law in India
i am unable to pay the monthly emi's of my personal loans,mean time they have filed a case on me for cheque bounce under 138 sec,kindly suggest how to overcome
Asked on 7/25/09, 10:17 am
1 Answer from Attorneys
Advocate Siva Subramanian
M/s. R. Siva Subramanian
Once you receive the summons on 138 case, it is better to appear before the court, failing which the complainant can seek non-bailable warrant against you. Meanwhile, you can negotiate with the bank to reduce your emi's according to your repaying capacity by granting you a fresh loan taking together the old loan+interest thereof. Alternatively, you can seek extension of loan period by reducing EMIs..(I understand, both the things are diffcult to negotiate, but have a try)
Answered on 7/25/09, 10:26 am
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