Legal Question in Credit and Debt Law in India

outstanding instalements of consumer loan taken from Coop Bank

I have taken loan from one co-op.bank but due some causes it was not been paid by me for 3 years and the bank has sent attachment letter through Bank Registrar but bank has not intimated anything about attachment of my salary. Can I stop the recorvery through my salary or what is the way to escape from this liability ?


Asked on 3/09/09, 7:44 am

2 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: outstanding instalements of consumer loan taken from Coop Bank

There may not be any remedy available to you for protecting your salary except to file for insolvency if you are unable to meet your liabilities.

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Answered on 3/09/09, 10:48 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: outstanding instalements of consumer loan taken from Coop Bank

Already replied.

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Answered on 3/13/09, 3:42 am


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