Loan defaults
2 years ago
I have lost my jobs and failed to pay EMI of 4 credit cards and 2 personal loan of Private Bank 2 and 3 EMI. Bank has sent legal notice and at the same time collection department harassing me by frequent visits at home and shouting and threatening over phone. I have given written mail to Bank for 2 years moratorium but they continued harassing me which tensed me in such a way, that I failed to concentrate on new jobs or gainful employment. Please advise how to handle this situation.
A.Dear client,
Since you have taken a loan from the bank, you need to repay them eventually. However, this does not mean they can use harassment as a tactic to get payment from your end. You can file a police complaint against the people shouting and threatening you over the phone and you can inform them of the same and tell them to put an end to it. As for the repayment, you can ask the bank manager for an extension in the date of repayment by explaining your situation.
Thank you.
Since you have taken a loan from the bank, you need to repay them eventually. However, this does not mean they can use harassment as a tactic to get payment from your end. You can file a police complaint against the people shouting and threatening you over the phone and you can inform them of the same and tell them to put an end to it. As for the repayment, you can ask the bank manager for an extension in the date of repayment by explaining your situation.
Thank you.
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A.Since you have taken loan so you will have to repay them but that does not mean that they can harass you by sending people at your home. Speak to the bank manager and tell your condition and ask them to reschedule the loan repayment. And about those people coming to your house and shouting tell them that you will file a police complaint against them if they do not stop this.
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