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Unable to repay gulf bank loan


17-Jan-2023 (In Recovery Law)
I had taken a personal loan worth 30 Lakhs from a bank in the gulf for medical expenses of my father who was in ICU. I have been paying the EMIs regularly. But suddenly my company started downsizing and removed me without considering my liability (They had earlier given no objection certificate for my loan). They didn't even compensate me fully and I had to leave the country. For 1 year after losing my job during COVID lock down in 2020 I tried to pay the EMIs from what ever my savings were. But for last 2 years I could not pay. In order to repay my loan I tried a lot to get another job in the gulf as I could not pay an EMI of 60,000 pm with a job in india. The gulf bank has emailed me when i stopped paying the EMI regarding the non payment to which i had replied that I will repay as soon as I get a job in the gulf. After 2 years some agent is trying to contacting me now for the repayment. I have no resources to repay. Please advise, what is my future.
Answers (1)

Answer #1
868 votes
You can always send them a legal notice regarding your inability to pay the EMI’s. And if you are facing so much harassment then you can also forward a written complaint to the police station of your area. For more legal assistance I am just a call away.
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