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Refrain from emi payments for 5 months


01-Oct-2025 (In Recovery Law)
I want to refrain my emi for 5 months after that I will continue with emi payment due to financial hardship
Answers (1)

Answer #1
881 votes
!In case of genuine financial hardship, you may approach your lending bank/finance company and submit a written request for EMI deferment or restructuring. The lender has discretion to allow moratorium, rescheduling of tenure, or partial relief, but you cannot unilaterally stop EMI without consent. If EMIs are skipped without formal approval, legal recovery proceedings and credit score damage may follow. Act quickly and negotiate a documented arrangement to protect your rights.
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