Remedy as defaulted in payment of 4 instalments due to loss of job

Sir, maine Rs. 90000 ka personal loan tha jiski 13 installment di maine aur job loss ki wajah se 4 installment pending ho gayi, ab recovery agent kah raha hai full payment do ya court aa jao... Agent ne kaha mujhe jail bhi ho sakti hai ... Main kya karun

Answers (5)

311 votes

Dear Concerned,
You need not to worry as u record the all calls u receive from the recovery party and contact a faithful lawyer so that he can persue your matter strongly in the arbitration court to make the further payment with libral options.

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214 votes

Ideally, you will have to pay the amount back. But so far as the question of going Jail is concerned, the same depends on the court proceedings when you are unable to make the payment by all means available. Only a Civil case can be filed against you for non-payment. You can try and negotiate with them.

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303 votes

Your loan can be regularized, Bank can only file recovery suit in civil court. you have not mentioned the name of bank. you can contact me if any summon comes from any court. Bank can not get any warrant against you, you can approach police if recovery agent harass you

348 votes

Dost aapko kuch nhi hoga tension na lo..installments jo due hai woh aapko deni padegi..agar court jaati hai dusri party tab bhi aapko paise uttarne ka time diya jayega court ke dwara isliye aapne jis company se loan liya hai uske sath baithkar mutual settlement kar lo aur jo time chaiye aapko paise uttarne ka woh unse maang lo phr bhi agar woh nahi maante toh court mein settlement kar lena waha kanoon ki chalti hai aur kanoon sabke liye equal hai.

241 votes


Ask them to give you a time to pay back all pending installment or if they still force you to go court then tell them that send us a notice then we will see what we have to do or not. you would have our contact then contact us.

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