Legal remedy for request of 6 months time to repay education loan

954 votes

Kindly share your loan agreement. So that your query can be addressed. . . .

Advocate Ramniranjan Chaturvedi LawRato

785 votes

You file an application seeking extension of time for repayment of loan due to unavoidable situation and other concern grounds more so you assure them that you have a good intention to repay and whatever you have you can deposit to show your bonafide more so the Court would be more lenient than the bank it will give you time for repayment and it can restructure your loan schedule also depends nothing to panic about if you have a good intention

Advocate Manish Kumar Tiwari LawRato

593 votes

Deferments allow you to stop making payments for a certain period of time if you can show valid grounds. For instance, you may be able to get a deferment if you can show economic hardship, are returning to institution, are unemployed, or looking for a job.

Depending on your type of loan, the deferment will not only allow you to stop making payments on the principal, but it will also stop interest from accruing on the unpaid balance. For other types of loans, you are only allowed to defer the principal of the loan, meaning that interest on your loan will continue to increase during the time you are not making payments.

As regards to your query, you can talk to Canara Bank Branch Manager and try to negotiate on the aforesaid terms. It allows you to temporarily postpone education loan payments. You can also try to negotiate them to increase the tenure & reduce the EMI.

Advocate Nitin Agarwal LawRato

662 votes

Dear friend you don't explain in your complaint from which court you get summoned. Second thing you have to filed a reply a reply in that case so my suggestion to you plz consult a lawyer and filed a reply in that case and mention your condition in your reply you will get relief from the court.

Advocate Manish Sharma LawRato