A Financial Institution has filed a section 138 against me as I've defaulted the loan. I believe they've presented the empty cheques I had given them while taking the loan. For 2 years I was jobless and couldn't pay the EMIs. I've got a job now but it's still very difficult to pay them the full amount. However, I'm okay with paying in EMIs back but like how it earlier was and not like within one or two years as the EMI amount will be lot higher. Total amount is around 5 to 6 Lakhs.
I see that there's a Hearing in a court for my case tomorrow in another state and I can't be present.
How to proceed further with the case? What are the options available for me in this scenario?
A.I believe the bank would be within its rights. However, an amicable discussion may first be made with the bank, which can also lead to them withdrawing the case.
Dear Sir,
The legal heirs of deceased that is wife is not a signatory to such guarantee paper. Get all the relevant papers maintained by the Chit Fund and approach the Civil Court and get a stay order...
Dear Client,
When you joined the coaching institution accepting their terms and conditions, you should have informed the Coaching Institute about your cancellation or discontinuation of the coaching t...
Dear Client
When you have taken the loan then its your duty to repay the same and in case you are not in a position to pay due to any reason then you should let them know that you cannot pay now but y...
Dear Client,
In the given situation, if you are confident with your loan status, you may file a complaint against the Bank to the regulatory authority RBI online on its grievance redressal portal und...
Dear Client,
In the given scenario, you can serve a legal notice to the person to whom you lend your money and if you possess sufficient proof in support of your claim you can file suit for cheating a...
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Section 138 - Default loan
My friend stood as guarantor to a chitfund company
