Legal Question in Civil Rights Law in India
sir i had got a commercial vehicle financed from a govt. bank but was unable to pay the installments in time hence the bank has sued me in the court of law they have filed a civil suit and asked me to repay the entire amount which i am not in a position to do. i am ready to give back the financed vehicle to the bank kindly guide.
2 Answers from Attorneys
Even if you surrender the vehicle, you will still be liable to pay the balance debt. Go and negotiate with the Bank, and get the amount reduced and surrender the Vehicle. Bank will not reduce the amount beyond a limit.
You can sell the vehicle and clear your debt . settle the issue with the bank.....Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.
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