Legal Question in Banking Law in India

Hi,

I was not into job from last 3 months and didn't got the salary. Due to this there are three EMI's which are due again my Personal Loan A/C. I have already reported it to bank. What would be the actions which bank can take.

Regards

Aman Sahni

Email: [email protected]

Mob: +91-7065153065


Asked on 10/21/15, 3:11 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP

21.10.2015

Dear Aman,

Bank will recover interest on the delayed EMI payments from you. I suggest you start repaying the EM's at the earliest to avoid getting into legal recovery hassles with the Bank. Your CIBIL rating will also be affected.

Regards,

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Answered on 10/21/15, 5:47 am


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