Bank threatening for property auction for non repayment of loan


My father's pledged housing loan tenure expires on December 2016 but still we have pending amount of ₹ 1650000 in which around ₹.500000 is interest & balance ₹.1150000 is unpaid due.we had been paying until September but due to unusual situation we didn't made payment for past 3 months.Now Bank recovery team is rushing us for full payment within next month or else they will go for auction.please help us

Answers (1)


273 votes

It is better to meet the bank manager in person, explain the cause for delay and seek time. To show your commitment, remit some amount. Request the bank not to precipitate the matters. Call for loan statement and check the interest calculation to your satisfaction.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers


Advocate Bala Janaki
330 Thambuchetty Street, Chennai
35 years Experience
Advocate Barkha Bhalla
Banjara Hills, Hyderabad
17 years Experience
Advocate Vijay Tangri
Saket, Delhi
21 years Experience
Advocate Ravi Jadhav
Koregaon Park, Pune
12 years Experience

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 Banking / Finance 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 contact a Lawyer of your choice to address your query in detail.

Related Questions


"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."



Related Articles