Legal Question in Credit and Debt Law in India

Dear sir,

I am bank employee but i was availed personal loan from another bank.This is clean loan they dont take any security,now i am dismissed from my bank since june 2013,since then i was not repaid to loan amt,now loan availed bank issuing me notice for repaying loan.I requesting to bank now i am dismissed from bank now i am not able to repay the loan until jan 2015.It is legal request or not please inform me or what i will do in this regard


Asked on 1/25/14, 5:13 am

1 Answer from Attorneys
anuradha Dixit +9312411481 dixitlawfirm

you as a bank employee should not ask this question. the default in repayment of the loan amount attracts penal intrest and huge intrest. how will the bank forgo that??the loan and intrest will keep piling up and you will be in legal trouble. pay them by bits and pieces and negotiate with them on the payment of the penal intreat. but not paying anything till jan 2015 will not be acceptable to the bank

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Answered on 1/25/14, 7:15 am


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