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Ecs cancelled from loan app is it criminal offense


20-Mar-2024 (In Cheque Bounce Law)
I have multiple loan from cred app and all loans have mandate ecs Nach but due to financial issue I'm not able to pay emi now I'm cancel all ecs through net banking To kya mere upper case file hoga 420 ka or saja ho skti hai kya
Answers (3)

Answer #1
711 votes
yes they can file a case against you and the means of the case would not confined you to 420 only there are other options also. but have they send you the notice till yet or not. if yes then you need to reply it or lapsing on your part would ebtitle them to file a case
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Answer #2
918 votes
Initially, they may resort to intimidation tactics concerning your missed EMI payments, followed by persistent phone calls. In more extreme cases, they might dispatch recovery agents to your residence. Legal action, such as filing cases against you, is typically considered as a last resort.
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Answer #3
934 votes
to secure we first have to make the other party aware about your actual position that you are not in condition right now to pay emi and we can ask for solution and we should be getting it but first we need to revert to them on all the actions they have taken .
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