Regarding car loan NPA
3 years ago
I have taken a car loan for 7years which I have paid 3years emi without Missing after I had not paid 9months emi due to my financial crises recovery team has siezed my vehicle and telling me to settle entire amount of 7years of emi to release my car Im ready to pay the pending emi and continue the loan but bank is not accepting my request
A.Once your vehicle has been taken by recovery team then please stop paying th eEMI as they will never return your car to you. But they auction the car. Have u given ur consent to the recovery people to take the car, or have they directly taken away the car...As u was NOT able to pay the EMI u should have sold the car to some of ur friends etc. Now there is NO option to u , even if u pay 1 or 2 EMI ur car will NOT be released.
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ADV. ANISH PALKAR (High Court)
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ADV. ANISH PALKAR (High Court)
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A.Hi,
You can make a representation to the Banking Ombudsman to attempt to resolve the issue.
if you found this helpful, please rate us.
You can make a representation to the Banking Ombudsman to attempt to resolve the issue.
if you found this helpful, please rate us.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
You can approach the Banking Ombudsman to resolve the issue.
If you found this helpful, please rate us.
You can approach the Banking Ombudsman to resolve the issue.
If you found this helpful, please rate us.
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Vaidehi Samant
Responded 3 years ago
A.You will require the loan document which you signed during availing loan whether it had any such clause and also you have not mentioned if they had sent you any notice. If no such clause in the loan document to that effect and no legal notice then you can go legal way. You can file in Consumers Court for misleading which will come under Deficiency of service. But at first pay the EMI for the pending months. Also before approaching Court you can try negotiating with higher authorities requesting them in writing also to understand your side and settle the issue and that you won't fail to make payments on time in the future. Thank you. Rate this if you find helpful.
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