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Unable to pay loan due to financial hardship


29-Dec-2025 (In Recovery Law)
I have borrowed multiple pl from multiple lender but now I am not able to pay it due to financial hard ship How to handle it I have already missed 2 emi
Answers (2)

Answer #1
698 votes
Missing EMIs is a civil matter. Immediately inform lenders about hardship, seek restructuring or moratorium. Avoid harassment; recovery must follow law. If pressure continues, approach bank grievance cell or legal remedy which i suggest
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Advocate Pankaj Bajaj

Adv. Pankaj Bajaj

LawRato Mumbai | 1000+ Answers
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Answer #2
826 votes
Don't worry try to settle it with them, if they are bank and NBFC they usually settles the cases in 35-40% of the pending amount for personal loan and credit cards, they usually start the recovery process legally after making the loan NPA which will take more 5-8 months, until then be ready for recovery agents and multiple calls on your head.
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Advocate Moksh Jain

Adv. Moksh Jain

LawRatoMumbai | 100+ Answers
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