What to do my friend was unable to pay the EMIs
29-Jun-2023 (In Cheque Bounce Law)
my friend loan amount is 2.10 lac and he pay installment 9131 every month after loan installment date of 4 every month- he not pay 5 installment in 30 month and not pay interest 27000to bank. Q1- Bank issue his legal & criminal notice ? Q2- If he not received notice what he go to court in hiring ? Q3- after bank notice he pay some amount to bank then not need to present at bank ? Q-4 for 72000/- rupee bank issue him legal & criminal notice this not my harsement ?
Please share the notice that bank send to your friend.
It is the liability of bank to recover the amount by the borrower .
Need to know the full facts.
When did he took the loan ?
For the harassment I need to see the notice what is written in it.
It is the liability of bank to recover the amount by the borrower .
Need to know the full facts.
When did he took the loan ?
For the harassment I need to see the notice what is written in it.
It is the case of cheque bounce,bank at the time of loan takes blank cheque as security,... Legally you are bound to pay cheque amount..You can wait for case,afterward you can contact bank also and settle a matter amicably
In this case first situation is which work your lone amount,and second is which bank private or government,otherwise any lone amount if you don't pay the bank,the bank issue his legal notice and if you don't receive bank notice etc bank also notice your lone guranter,and bank also proceeding 82 process and recovered his lone amount,so you mai contact your bank and sattled lone.
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