Finance company seize vehicle & sell in auction & ask for balance cash


My question was my dad make finance agriment with shriram finance for tata ace, after paying some emi he can't make to pay some instalment s so they seized our vehicle in 2012 ...After they sold it in auction....After 4 years they gave notices for my dad for balance amount....Is there any suggestions for mee

Answers (1)


347 votes

Hello,
The shriram finance company has the rights to sue against your father for balance payment. At the time agreement , most of the people don't read the terms and conditions.
I think your father also don't know the terms and conditions.
1. The finance company has rights to sue against your father.
2. Your father has to give reply to the company immediately.
3.There is an option for one time settlement with the finance company.
It depends on the case status and management of the finance company.

If you have any query , contact me .


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