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Payment system for lending practices in fashion/retail sector
13-Apr-2023 (In Consumer Court Law)
What legal actions can be taken against customers who don't pay the EMI payments On time ? Especially if they don't make the whole payment after a certain period of time ?
Legally firstly send them a notice calling upon them to clear the dues within 15 days of the same. In case they are still defaulting about the same and refuse to pay please see the loan agreement and refer to the actions mentioned in the clauses of default of the same. Act as per the default clause mentioned in the agreement and take suitable action.
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15+
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Adv. Swapna Kode
Mumbai | 25+ Answers
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Since you are not a consumer, you don't have remedy in consumer forum. You have remedy in civil court (for recovery of money or specific performance of contract) or arbitration as your contract with customers may permit.
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Adv. Avinash Rajendra Kalraiya
Nagpur | 25+ Answers
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