LawRato

Failed to pay back the loan


In Recovery Law

I took loan by mortgaging my flat but unable to pay the amount because loss in my business . what should I do?

Answers (1)


205 votes

You can approach the bank and tell them about your situation, they can provide you with better payment plans. You are bound to pay back the loan amount. If you fail to pay back the loan amount then the bank will recover the loan amount through your mortgaged property.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

LawRato

Popular Recovery Lawyers


Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
35 years Experience
Advocate Rajesh Rai
Sector-19, Dwarka, Delhi
22 years Experience
Advocate H Gouri Shankar
Banjara Hills, Hyderabad
26 years Experience
Advocate Rajeev Nigam
Kanpur Nagar, Kanpur
28 years Experience

Report abuse?

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 Recovery Lawyers at lawrato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at lawrato.com or contact a Lawyer of your choice to address your query in detail.

Related Questions


"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."



Related Articles