Loan and instalments please give me some advice
09-Mar-2023 (In Consumer Court Law)
I had taken loan for car..I gave my instalments and couldn't continue for some month s ..and after sometime bank deducted without my consent 1 lakh from my bank..and told me that it is closed after 9 years they are calling me and asking me to pay 5lakhs as their interest is increased if they will send me summon what should I do
Does your loan document say that they can deduct the amount from your account directly? Have they given any prior notice to you before doing this ? Have they sent any letter email or communication where they have informed you as to how the amount of Rs. 5 lakhs is due?
Hi,
Has the bank served you with a legal notice?
If your payment of the instalment was in ECS mode they can only charge you for the amount you have instructed your bank to allow to get deducted from your account. The bank may adjust any ECS bounce charges. So, refer to your loan document and check what was your standing instructions to your banker.
If they have violated the terms of the loan agreement, then you have a legal remedy in hand.
Let us know if you want to discuss further about the legal remedies available.
Has the bank served you with a legal notice?
If your payment of the instalment was in ECS mode they can only charge you for the amount you have instructed your bank to allow to get deducted from your account. The bank may adjust any ECS bounce charges. So, refer to your loan document and check what was your standing instructions to your banker.
If they have violated the terms of the loan agreement, then you have a legal remedy in hand.
Let us know if you want to discuss further about the legal remedies available.
Query perused. You must be having the closure letter for the home loan. Please share the copy of the summons upon receipt yo enable us to advise you. For further consultancy and legal services you may contact us.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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