Legal Question in Credit and Debt Law in India
what are the consequences for non payment of personal loan as per law?what if the person who actually took loan is not in india?does family will be affected?
Asked on 6/28/12, 11:36 pm
1 Answer from Attorneys
Global Legist
Advocate & Legal Consultants
Hello,
Court Case will be filed against you.
In case you do not attend the court case (if, notice is served), ex-parte order will be passed and your guarantee will be attached.
If, guarantee is not enough for the recovery, other accounts and property will be attached.
With Regards
Global Legist
Advocates and Legal Consultants
+91 9873400403
www.globallegist.com
Answered on 7/02/12, 1:20 am
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