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Took a loan from bank. Interest is way to much. How to settle?
29-Aug-2023 (In Recovery Law)
We took a loan 10 years back from a bank. I was unable to pay the loan as i got an accident. I am wiling to pay but the interest put by them is too much. I have received summons. I want to do settlement. What can i do?
In that when you are interested to settle the matter go on the summon date and tell your story that you met with an accident and the rate of interest to high I am not able to do the whole money with the same rate of interest so kindly grant me sought amount of money in that court give you conference to settle the matter
Helpful?
46+
46+
Adv. Sandeep Singh
Delhi | 100+ Answers
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It would be a good idea to give the bank a legal notice so that the bank can proceed with foreclosure and help u settle ur problems...also contact a lawyer n talk face to faceotherwise ur civil score will suffer..
Helpful?
49+
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Adv. Gurmeet Singh
Dehradun | 100+ Answers
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Well, have you paid any instalments at all? How much interest has been charged? You can always approach the bank for a request to settle. Do this fast before they drag you to the Debt Recovery Tribunal and get an order for utilising your property or security given by you for recovery of the amount. Have you already got summons from DRT?
Helpful?
40+
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Adv. Shweta Sharma
Delhi | 100+ Answers
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