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Personal loan - job loss and unable to pay emi
14-Oct-2023 (In Civil Law)
Hello Sir/Mam,
I had taken a personal in the month of march 2020,
I had taken the loan moratorium for 6 months. But in the month of August I lost my job due to the pandemic.
I'm unable to pay my emi, but I managed to pay my emi for sep with great difficult.
Now I'm unable to pay personal loan due to job loss as I'm still unemployed. The loan restructuring is still not rolled out from the bank and I'm getting calls from the Collection team.
I tried explaining my situations but they are not understanding.I have told them that once I get job I'll start paying. They are telling me to pay the emi and even if one month emi is not paid a legal action will be taken.
What should I do in such situation.
Please advice.
if you lost due to covid 19 reasons then you can file petition for insolvency petition in civil court otherwise they will call again again you they will give so much tourcher they won't ask any reason ethir you need give police complaints
Helpful?
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50+
Adv. Shankar Bandi
Bangalore / Bengaluru | 400+ Answers
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