Not able to pay loan bank issued legal notice What can I do

Sir we took a loan under Kisan credit card (KCC) 3 years ago. But because of drought and illness of my father we could not repay the same, now bank issues legal notice asking us to clear the remaining or our land will be auctioned. it was 2lac loan. they sent letters every month. We feel so much harassed sometime they say we will publish your name and photo in local newspaper Please help us what to do? meanwhile rajasthan is drough affected state. few month ago RBI already notification said that more loan should be issued if farmer is from drough affected area. What to do?

Answers (1)

308 votes

Since you have already received the Auction Notice, please approach an Advocate at the local Court and apply for an Interim Order of Stay. If the Auction has already been conducted, then apply for Stay of further proceedings. Please do so inmediately. After obtaining the stay, you can also proceed to seek direction for One Time Settlement, so that you can work out the terms of a settlement with the Bank. If any policy is available for farmers, try to apply for it. But getting a stay order of the auction or it's proceedings is urgent. Please do not ignore this - take action immediately

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers

Advocate Bala Janaki
330 Thambuchetty Street, Chennai
37 years Experience
Advocate Ravi Jadhav
Koregaon Park, Pune
14 years Experience
Advocate R. Madhuraj
Vanchiyoor, Trivandrum
21 years Experience
Advocate Barkha Bhalla
Banjara Hills, Hyderabad
19 years Experience
Report abuse?

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Banking / Finance Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Related Questions

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Related Articles