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What will happen if I don't pay back my loan


27-Apr-2023 (In Banking / Finance Law)
Dear Sir, I took loan from Bajaj Finance, and i have not paid emi's due to jobless. I have worked in a company and it was gone bankrupt, and since than i am jobless. now agents following up and said case filed against me and NBW issued on my name. pl suggest how should i respond. i am ready to pay but i have asked one time settlement with EMIs. i want to know what happens if i dont pay or respond. what can i see the worst situation.
Answers (1)

Answer #1
652 votes
Hi,
You are not mentioned how much is the loan amount, how many emi's are paid, how many emi's are pending. You have to pay all the emi's and other charges to the Bajaj finance. If you are paid and not responding to the company , they will file a case against you.( Depends on loan amount pending, type of loan, pending amount). So better to contact the credit manager or recovery manager of the finance company and explain about your situation in a pleasing manner. Once he convened on you situation, there is a chance to accept for one time settlement . Better to contact the manager for one time settlement.Thanks for your query
Have a nice day.good luck.

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