Loan debt and credit Card emi non payment of dues

Question

Loan debt and credit Card emi non payment of dues

20-Sep-2025 (In Recovery Law)

I haven taken 40 lakh from multiple banks loans and credit Card my salary is 70k my family budget is 180k per month i am not able to adjust the money every month now iam not paying any loan emi and credit Card bills since last three months the bank lenders harrassing with phone calls,messages, legal notice,Home visit.two months back I meet lawyer for asking time relief for two years He said file injunction order I said ok and paid 20k still now the lawyer not responding

Answers (1)

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Advocate Pavani Kumari LawRato · Accepted Answer · 2025-09-20T10:50:57+05:30

Answer #1

You should immediately stop relying on the non-responsive lawyer and take urgent legal steps. Since you have already defaulted on EMIs and lenders are issuing notices, the banks may soon proceed under SARFAESI Act or file recovery proceedings. You can approach the Court for a proper injunction / moratorium if there is genuine hardship, but courts generally don’t grant blanket two-year relief. A better option is to: 1. File a debt restructuring / OTS (One Time Settlement) request with your banks 2. If harassment continues beyond legal notices, lodge a complaint with the Banking Ombudsman / RBI for unfair recovery practices. 3. If insolvency is unavoidable, you may explore the option of filing under the Insolvency & Bankruptcy Code (IBC) for individuals, which can legally stop recovery until resolution. Take fresh legal assistance from a responsible advocate who can file the right applications without delay. Do not ignore notices, otherwise banks may get ex-parte orders against you.

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