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Loan Emi bounce - need to settle the amount


06-Jun-2023 (In Recovery Law)
Hi Team , i have taken loan online however due to some personal issue i am not able to pay lo amount i tried to settle and understand them they are not understanding and sending me legal notice with fine and total amount .nnRegards.nRakesh kumar
Answers (1)

Answer #1
805 votes
First of all you need to reply to the said legal notice that is being sent to you. And in that reply only it's advisable for you to write down your inability to pay off the loan amount and ask them for settlement. If they agree then you should execute a settlement deed with the loan agency. For more legal assistance I am just a call away.
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