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I want to ensure the complete refund of Loan
08-Aug-2023 (In Banking / Finance Law)
Sir, I have taken Personal Loan from a co-op Bank in 2012. Upto Oct.2014 I had paid all the EMIs of Rs.5700/- per month regularly. But in Oct 2014 I have lost my Job and EMI was not paid regularly. Now the bank is torchering to my guarantors and ask for Rs.12000 per month where as my EMI is Rs.5700/- per month. I am now ready to pay Rs.6000/- per month but bank is not accepting this and want to deduct from guarantors. The loan agreement period is going to expire in Sept.2017. Please advice
I have to study the terms of your loan agreement and other factual regarding payment and non payment of loan amount. Without knowing other facts on the basis of assumption I am stating that If in case you have not paid your EMIs for certain period then probably that would be the reason Bank is asking for enhanced amount of EMI which may also include outstanding amount. For further assistance you can call me and take my appointment.
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Adv. Bankim Mehta
Mumbai | 200+ Answers
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