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What to do if I am unable to pay back my loan and credit card emis
27-Apr-2023 (In Banking / Finance Law)
Hi, I'm going through a difficulty in my personal loan and credit card defaulter due to i lost my job. I couldn't pay the EMI's and bank personnel are coming to my home and harassing me and my family members. I asked for some time till i get the job but bank is not allowing me to give time. Can someone help me on how to come out of this situation. Thanks
Banks are pretty stringent in following up on the loans and credit card dues. The only recourse the bank has is to file a litigation against you to enforce their right on you. Further, your name will of course be listed in CIBIL until the loans are cleared so that would prevent/impact you from applying for any other financial facility.
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Adv. Ramakrishnan S.
Bangalore / Bengaluru | 50+ Answers
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