What to do i am unable to pay my car EMI

One notice has been sent to my guarantor stating that car deficiency balance of 175000 has to pay, he is torturing me to pay that amount, but I am unable to pay because they seized my vehicle for not paying EMI and how can I pay such bulk amount sir, what will happen in this if not paid please tell me some suggestion sir

Answers (1)

329 votes

If you are unablr to pay, ask the bank authorities to sell your vehicle and adjust the amount. If even after selling your vehicle, dues remain, you need to pay the remaining amoumt. If u didnt pay, bank may file case against you amd your guaranteer. So its better to settle amicably.

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