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.

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