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Can I repay my dues to bank as I had left my house a year back
14-Dec-2023 (In Banking / Finance Law)
I have 4 credit cards since 1year I am not paying. and not paying 2 personal loan emi's 0ne is 1lakh and another one is 3.5lakh since 9 months... I left my home( permanent address) 8months back to escape from these people but my parents are staying there only and changes my phone number also and since I did not communicated with these people and also my parents . now I have money I can pay full settlement now. Now my questions are: 1) Now anything problem for me if i paid full settlement also they will put me in jail...? 2) if they did any harm to my parents because for me...? 3) do they recovered our asset(home) which was under my dad name. 4) i am a software engineer so it affects to my future career..? 5) For so my check bounces DO they put me in jail for under section 158 and SECTION 420 IPC...? please advise me before go to my permanent place..
Answering to your questions,
1. By now, your total outstanding could be almost doubled and cibil score also should have come to 'negative' . This rating can not be erased. So, get the help of somebody and negotiate the outstanding amount and settle.
2. If the account not settled then there are high possibility that your parents and friends would be harassed. But, it is not the legal right of the bank recovery agents to harass your parents and friends. If they do so then complaint against them in police station.
3. If your father signed as guarantor then banker can attach the property to recover outstanding.
4. In the BGV, if it is revealed that you are a defaulter then it could affect your career.
5. It is obvious that cheque bounce would lead criminal action against you.
Get the help from a lawyer for all your legal problems.
1. By now, your total outstanding could be almost doubled and cibil score also should have come to 'negative' . This rating can not be erased. So, get the help of somebody and negotiate the outstanding amount and settle.
2. If the account not settled then there are high possibility that your parents and friends would be harassed. But, it is not the legal right of the bank recovery agents to harass your parents and friends. If they do so then complaint against them in police station.
3. If your father signed as guarantor then banker can attach the property to recover outstanding.
4. In the BGV, if it is revealed that you are a defaulter then it could affect your career.
5. It is obvious that cheque bounce would lead criminal action against you.
Get the help from a lawyer for all your legal problems.
Helpful?
12+
12+
Bank is concerned to recover the loan not to punish you. If you pay loan along with full interest, they will close all the cases even if they have filed. And by repaying you will not get any problem on the contrary if to avoid payments as you made, will deffinately face legal issues. So go and settle the dues as early as possible.
Helpful?
10+
10+
Adv. Prasankumar R Tukkappanavar
Bagalkot | 25+ Answers
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