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HOW TO TERMINATE EMI? I am unable to repay the loan.


In Recovery Law
Hello,\n\nI have taken a student loan, for my MBA. I pay EMI on monthly basis. Now, it has been few months, it's becoming daunting to keep up with it.\nI want to discontinue paying EMI and drop out of course. My college allows me to cancel course but the third party loan to whom I pay EMI are not ready.\nPLEASE, help.\nHow do I terminate EMI paying without legal action or foreclosure?\nPlease help!

Answers (1)


282 votes

You can always send them a legal notice regarding your inability to pay the EMI’s asking them to cancel and close the loan. Whether the loan was taken from the bank or a private person…??? For more legal assistance I am just a call away.


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