Legal Question in Credit and Debt Law in India
personal loan
few months back I took a personal from commercial bank on my salary and due to my sickness i did'nt attend my job for 4-6 months. The Comapny has removed from services. Due to this I didn't pay the EMIs what I committed earlier. Now the bank people are coming to my home regularly and harrassing me and my family members to pay the EMIs due and settle the full amount. Now, unfortunately, I don't have money right now. I told them that i would pay the EMIs which are pending in due course. But they are not at listening our words and they are also saying that they will lodge a complaint against me in nearyby Police Station. Is they any possibility to take any leagal action from both the sides. Kindly advise me what to do if they lodge a police complaint.
2 Answers from Attorneys
Re: personal loan
A police complaint may not be maintainable.
They may file a suit for recovery.
You should better settle the matter amicably to avoid costs and litigation.
Re: personal loan
In my personal experience I my tell you that they may not file any complain but they can file a suit for recovery to get that money
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