quesHow can i avoid paying EMI's. Financial condition very bad.

I took a personal loan from a bank. I have paid 25 EMI’s till date. But now am not able to pay back the loan as i was recently removed from the job. Now I am receiving threats from the recovery agents. Recently one person called and started abusing regarding the recovery and said he was a police officer. What can I do now? My financial status is very bad right now.

  • ansYou cannot avoid paying the emi of your loan account, you can approach the concerned bank manager for settlement of the loan account and start paying the emi,

    if they resort to recovery agents, you can file a complaint with the local police station for harassing you by muscle force.

  • ansYou cannot avoid paying the emi of your loan account,you can approach the concerned bank manager for settlement of the loan account and start paying the emi,if they resort to recovery agents ,you can file a complaint with the local police station for harassing you by muscle force.

    Advocate Ritesh Isaac

      Bengali Market, Delhi

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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