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What are legal remedy against bank notice to pay amount is 7 days
30-Aug-2023 (In Banking / Finance Law)
Its an 8 year old loan of 195000 which now with interest has reached 300000 from a bank which acquired the original bank taken loan from. Loan has only been paid for 5 months n then have relocated after 6 - 7 years get an email from the new bank stating to clear the entire loan in 7 days.I Can't afford one payment due to crisis need a waive off amount. Wat can I reply to the banks Email to clear desired amount?
Sir,
Issue legal notice asking for clarification of the total outstanding and need time to understand the debt. By parallel, negotiate the loan amount with agent ( number would have mentioned on the legal notice ).
Issue legal notice asking for clarification of the total outstanding and need time to understand the debt. By parallel, negotiate the loan amount with agent ( number would have mentioned on the legal notice ).
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