Legal Question in Credit and Debt Law in India

You have to pay back else you will be penalized. Try to findout new job and then settle the account.

For More detail, Mail your detail to the undersigned;

Mr. Kamal Grover, Advocate (Chandigarh, India)

M: 09814110005

e-mail: [email protected]

Note: We are group of advocates, experts in different fields of law in Supreme Court, All High Courts and few district courts of India and your case will be handled by our experts in your locality.

Regards and good luck

the options in ur case are clear. either you need to pay the instalments or you need to wait for the bank when they take a legal action against you for recovery. once they sue you for recovery, in case you luck favours you, u might get a job and pay up or you may reply to the court and express your inability to pay up and the court may consider your point of view and relax the time period within which you are to make the payment. you need not panic and wait for the right time.

either you pay the amount or go for the settlement.

You may file a petition for insolvency in the local courts disclosing all your creditors.

duplicate question. already answered.

In my personal opinion, you may approach the bank for a moratorium with specific request to seize the interest component especially in view of the fact that you had been regularly paying earlier. You may also request to reschedule the amount of installment per your convenience.