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Remedies against harassment by bank for recovery
07-Jul-2023 (In Banking / Finance Law)
Hi i am Raju i had a loan account with HDFC bank of 400000 tenture of 4years from 2015 first two years i paid to the bank with in date but due to recession i lost my job so,i didnt pay to bank from last 6 months. now the bank came to a settlement to pay so that i paid 25% of the amount at a time remaining i told i will arrange by next month end but they are asking to pay at the moment and the legal head said if you didnt pay the balance by tomorrow i will send the legal team and they will arrest you. now what i need to do.with these guys.
it is not so easy to arrest some one just like that. so follow due process of law, lodge a complaint with jurisdiction police station on the entire issue, get FIR registered, with that file private criminal complaint in concerned magistrate court ,against the concerned persons, the advise may look old but this is the only viable remedy available as of now. With regards to outstanding it is better to visit the bank and re negotiate the loan.
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Adv. RS Raghavan
Chennai | 100+ Answers
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