India  |  Credit and Debt Law

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8/18/10, 8:05 pm

Legal Question


Hello Sir,

Availed 1).Home Loan 2). Credit cards 3). Personnel Loan from same bank, and repayment was excellent , not even mised one day in past 4 and half years., But suddenly lost job and cou'dnt able to repay the emi's since 8 months.

Now received a notice u/s 13(2) and when i approach them to repay the ammount what they mentioned in notice , they are insisting me to first close personnel loan and credit card dues then home loan. they are willing to take possesion of property by showing home loan againest my three loans . Please suggest me remedy for this problem.

Thanks in anticipation


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