Legal Question in Banking Law in India

sir i can't able to pay my car loan past three months. in this case the financiar is forcing me to surrender the vehicle but im willing to pay the emi but i need 20 days time. i m scared the financiar will sieze my car legally it is possible to him or there is time to me for ask excuse from him

Asked on 6/20/13, 9:00 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP

21.06.2013

Dear Sir / Madam,

You should be very careful with finance companies if you default in the payment of EMIs on your vehicle loan, especially if you have availed a vehicle loan from Standard Chartered Bank as they are very strict when it comes to seizure of the vehicle. Immediate payment of all pending EMIs is recommended.

Regards,

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Answered on 6/20/13, 6:18 pm


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