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Loan Loan

3 years ago

I took a loan of ₹50000 for Home Credit. I paid 12 emi but because of covid I lost my job. I am not ablt to pay so they send a recovery agent at my home I asked him what is the settlement amount to pay because they are harassing me by calls and everything. He checked and told me I need to pay ₹44000 to close my loam. I was remaining with just ₹24000 to pay. What should I do now I don't have a job and not that much amount to pay.

Ayantika Mondal @ Prime Legal

Responded 3 years ago

A.Hi,
You can request the bank for availing a low Emi option for you. However, you can also request the bank to give you all the details of the loan documents and clarify your doubts about the sudden change in pending loan amount
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Anik

Responded 3 years ago

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A.Hi,
Sooner or later, the loan has to be paid back.
You can request the bank for availing a low Emi option for you.
the property which was used as collateral for the loan can be repossessed and later auctioned by the lender after following a due legal process
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