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Education loan for engineering 1.8 lakhs unable to pay legal action
02-Mar-2023 (In Recovery Law)
Hello. I have an education loan for 1.8 Lakhs taken in 2005 for my Engineering, I am unable to pay the loan. can they take legal action ? Letter of Revival is not signed. The bank is now asking me to pay twice as much and pay 25% immediately and pay the remaining withing 3 months. I am not able to arrange for that much money. They are also saying that If i don t pay, they will take legal action against me and file a law suit. What do I do ? One more thing I am being asked to sign a Letter of Revival . They got angry that I didn t sign immediately. Can they file a case on me or arrest me ?
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