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Action that can be taken after receiving notice from bank
24-May-2023 (In Banking / Finance Law)
I got educational loan and had repaid three fourth of it.only 40,000 is pending.Now bank has sent a lawyer's notice stating that I have to repay the amount within 7 days.what shall I do now?
Hi,
If you are paying the installments in a timely manner, then you can respond back with a reply notice and initiate proceedings under Consumer Protection Act. If there is any default in repayment, then it is better to go and meet the concerned branch officials and sort this by showing your bonafide intention as you had repaid 75% of the loan.
If you are paying the installments in a timely manner, then you can respond back with a reply notice and initiate proceedings under Consumer Protection Act. If there is any default in repayment, then it is better to go and meet the concerned branch officials and sort this by showing your bonafide intention as you had repaid 75% of the loan.
Helpful?
Adv. Shobhan M P
Chennai | 100+ Answers
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