A.Dear Client,
You are not legally obliged to reply to the legal notice but it is advised to reply to the legal notice as it would prevent the issue from reaching the court. Depending on what the legal notice is about, frame your reply communicating your response to the question/objection raised by the bank.
You yourself can also reply to the legal notice but it is always advised to get it drafted by a lawyer as it ensures that the correct format and information are being communicated to avoid legal complications.
Thank You
You are not legally obliged to reply to the legal notice but it is advised to reply to the legal notice as it would prevent the issue from reaching the court. Depending on what the legal notice is about, frame your reply communicating your response to the question/objection raised by the bank.
You yourself can also reply to the legal notice but it is always advised to get it drafted by a lawyer as it ensures that the correct format and information are being communicated to avoid legal complications.
Thank You
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A.Dear Client,
Your query requires more details to respond suitably. However, in case you received a legal notice from the Bank for non-payment of any kind of loan you borrowed, then the said notice is required to be suitably replied to explaining the reason behind your default to make repayment of the outstanding loan and seeking a reasonable time to write off the loan expressing your interest to negotiate or settle your dues against loans by following the steps like lowering your interest rate, arranging for a reduced interest rate is one of the most common requests a defaulter borrower can make to the Bank, creating or restructuring a repayment plan or extending the tenure of repayment of a loan, looking for debt forgiveness. considering loan consolidation, offering a one-time settlement payment. . A good starting point for negotiation could be offering around 30% of the amount that you owe. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path to resolve or settle the matter.
Your query requires more details to respond suitably. However, in case you received a legal notice from the Bank for non-payment of any kind of loan you borrowed, then the said notice is required to be suitably replied to explaining the reason behind your default to make repayment of the outstanding loan and seeking a reasonable time to write off the loan expressing your interest to negotiate or settle your dues against loans by following the steps like lowering your interest rate, arranging for a reduced interest rate is one of the most common requests a defaulter borrower can make to the Bank, creating or restructuring a repayment plan or extending the tenure of repayment of a loan, looking for debt forgiveness. considering loan consolidation, offering a one-time settlement payment. . A good starting point for negotiation could be offering around 30% of the amount that you owe. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path to resolve or settle the matter.
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