Bank personal loan emi not paid last 18 months
3 years ago
You
Sir iam b sudhakar from india, i had a one personal loan in bank ,but last one year i will not pay the emis,because i lossed my job covid pandamic situation, so recently bank was sending court summons my personal email ,but present my financial positimn is very bad not maintain the lawter and also court away from 1500 km, so present my attending court date is 11.05.21.i will not attend the court this time, so what would be happened for me and also what should deceision taken court.please give me clear clarificatikn sir.
A.Dear Sir,
Nothing will happen however you can get appoint one local advocate through online facility.
Nothing will happen however you can get appoint one local advocate through online facility.
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.Personal loan so any guarantee was given ?
If yes then bank have every right to claim that because you not paid or very long time.
Further if you dont go to court then warrant can be issued on your name.
but currently courts are closed due to lockdown so they will not issue warrant but it depends on state.
If yes then bank have every right to claim that because you not paid or very long time.
Further if you dont go to court then warrant can be issued on your name.
but currently courts are closed due to lockdown so they will not issue warrant but it depends on state.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
Bank can auction your property as a guarantee or take money from an attached account. Also, any person should not avoid appearing before the Court in any circumstances; if the person summoned fails to appear before the Court, the Court may hold the person in contempt and/or issue a warrant against them. You could send a letter explaining your position to the court which the court might consider.
If you find this answer helpful please rate my answer. Thank you.
Bank can auction your property as a guarantee or take money from an attached account. Also, any person should not avoid appearing before the Court in any circumstances; if the person summoned fails to appear before the Court, the Court may hold the person in contempt and/or issue a warrant against them. You could send a letter explaining your position to the court which the court might consider.
If you find this answer helpful please rate my answer. Thank you.
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A.Hi,
Under no circumstance the person should avoid appearing before the Court, in the event if the person summoned fails to appear before the Court, the Court may hold the person in contempt and/or issue a Warrant against such person. You can send a signed letter through your lawyer that explains your inability to attend and pay back the loan. Since you have not paid EMI for a long time the bank is well within its rights to either auction your guarantee or if any other account is attached to the loan then they can take the money from that account.
If you find this answer helpful please rate my answer. Thank you.
Under no circumstance the person should avoid appearing before the Court, in the event if the person summoned fails to appear before the Court, the Court may hold the person in contempt and/or issue a Warrant against such person. You can send a signed letter through your lawyer that explains your inability to attend and pay back the loan. Since you have not paid EMI for a long time the bank is well within its rights to either auction your guarantee or if any other account is attached to the loan then they can take the money from that account.
If you find this answer helpful please rate my answer. Thank you.
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