Legal Question in Credit and Debt Law in India

Sir, I have taken a personal loan from Citi Bank for Rs.99,000/- on July, 2007, and I have paid regularly my EMI for 33 months since, March, 2010 I am not able to pay the EMI due to some financial problem and I had communicated with the concern bank for onetime settlement, but the Bank has declined my offer. One ECS has bounced on March & I have closed my bank account due to not maintaining of Average Balance. Pease advice me what should I do. What is the action will be taken by the Bank.


Asked on 4/06/10, 4:32 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

In order to avoid any penal action and unnecessary expense, you should immediately settle bank's dues.

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Answered on 4/07/10, 2:12 am


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