Bike loan
2 years ago
I have taken bike loan for some reasons I couldn't pay it so they took my bike and sold it now they are asking for outstanding money what should I do. I don't have enough money to pay them and why should i pay now I don't have bike and the outstanding money is as equal to new bike price ...I used bike only one year
A.Once you take a loan then you need to repay the loan. Speak to then and try to reach out to some settlement asking them to reduce the amount that they would have got after selling the bike and rest you can pay them in installments.
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A.Dear client,
You can request them for an extension period. And the bike's price may have gone down in value after a year of its usage. Moreover, the bike's price may not be inclusive of the interest you need to pay. Since you took a loan for your bike, they took back the bike when you failed to repay them, which is allowed.
Thank you.
You can request them for an extension period. And the bike's price may have gone down in value after a year of its usage. Moreover, the bike's price may not be inclusive of the interest you need to pay. Since you took a loan for your bike, they took back the bike when you failed to repay them, which is allowed.
Thank you.
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