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Notice received from bank for non-payment of dues what to do


30-Dec-2023 (In Banking / Finance Law)
Dear sir, I am taken educational loan from SBI Bank . I have no jobs and studing for bank exam and govt exams. So i cannot repay my loan amount. Bank give legal notice from advocate lawyer that letter following information " Legeal notice notice for Non-payment of dues. I issue this legal notice to dischasrge in full your loablities to my clien(SBI) within 15 days from the date of this notice.":. So can i send any reply notice to advocate or bank . Pleas tell me sir what will do.
Answers (1)

Answer #1
608 votes
Hi,

When you took the loan and what was the T&C signed by you. For some educational loans the repayment starts one year after your your education gets completed, so please go through the loan documents again. You can approach the concerned bank manager and submit a request for extension and if the manager didn't agree then you can approach the higher officials in RBI or in the Finance Ministry.
Advocate Shobhan M P

Adv. Shobhan M P

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