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Can the EMI rate be reduced by the bank as I am unable to pay
24-Mar-2023 (In Banking / Finance Law)
I am holding a Hdfc credit card last 4 yrs & has a Bajaj Financial personal loan which I paid 15 installment . Right now I am out of job since couple of month & wanting to repay their dues in lower EMI . I personnaly approach bank but they are not ready to give any lower EMI option to reapy their loan .Please suggest
MY OPINION THAT i have follow your problem & i have idea that if you have now in financial crisis , you have not paid the installments consecutively then you have many legal options to follow to repay your deficit loan amounts in another configuration .
Helpful?
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Adv. Ranabir Banerjee
Kolkata | 200+ Answers
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Write a letter to them telling about your ordeal and also kindly ask them to reconsider your situation,as they can lower the E.m.i but first and foremost if you have no job how will you even pay the lowered E.M.Is secondly why did you mention your HDFC credit card.is there any credit card loan that you have taken besides Bajaj personal loan.there are plenty of gaps in the question you have asked I will definitely like to help your cause for that I have to know every details fell free to contact me through lawrato as you problem is a miniscule one in the eye of law. Cheers mate
Helpful?
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Adv. Rahul Uday Singh
Kolkata | 200+ Answers
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Hello,
Generally, they will not agree to it. But it can be done. You have to handle the situation tactfully. Have you failed any EMI as of now? You have to. Make a representation in writing through a lawyer stating the situation. It should be discussed in details.
Generally, they will not agree to it. But it can be done. You have to handle the situation tactfully. Have you failed any EMI as of now? You have to. Make a representation in writing through a lawyer stating the situation. It should be discussed in details.
Helpful?
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