Legal Question in Credit and Debt Law in India

Sir, I have taken a personal loan of 2.68 lacs & have paid for 7-8 months but I lost my job & couldn't get a job for a long period & evaded paying that loan as I couldn't pay by no means. Now it's more than 2 years that I couldn't pay on the loan taken. As time passed I understood that they will only settle the loan but not take monthly EMIs & I was in no situation to settle the loan A/c, What is the solution for my situation, what can I do? & what are the legal or any other complications for me? I would highly regard your advice which would help me. Thank you.


Asked on 4/05/11, 6:29 am

1 Answer from Attorneys
Professor SOMNATH MUKHERJEE MUKHERJEE ASSOCIATES(Cell +91 9874753359/ 9477781578)

don't go for legal complication but you settle the account through negotiation

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Answered on 4/05/11, 9:00 am


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