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How should i Reply for demand notice and want to settle the account
11-Jun-2025 (In Recovery Law)
Sir,
I have a loan amount of 2.2 Lakhs.
Due to my economic and job loss issue i couldn't repay it. As my penalties and bounce charges keep on increasing i wanted to settle it down for 1 lakh i explained them regarding my economic issues and asked for help regarding loan restructuring but they are not giving me that option Even settlement also for that amount they are not accepting and giving threating calls to me. They gave demand notice for loan recall. How should i respond to it ?
Send a written reply to the lender explaining your financial hard ship and your job loss. Request for loan restructuring or one time settlement . Mention that you are willing to pay one time settlement . Consult a lawyer and ask legal advice for your situation.
Helpful?
Adv. Pavani Kumari
Guntur | 400+ Answers
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