Regarding loan bounce
6 months ago
Hi actually I am taken personal loan from muthoot but now I am jobless from last 4 month so please help me
A.Dear Client,
Carefully review your loan agreement from Muthoot. It should outline the terms and conditions, including provisions for unexpected financial difficulties. Reach out to Muthoot to explain your situation. They may offer some options for temporary relief or restructuring of the loan. You can inquire about loan restructuring or a moratorium to temporarily suspend payments until you regain employment. Some banks offer these options during financial crises. If you're unable to negotiate with the lender, and the loan goes into default, it can have legal consequences. It may affect your credit score and lead to legal action by the lender.
Carefully review your loan agreement from Muthoot. It should outline the terms and conditions, including provisions for unexpected financial difficulties. Reach out to Muthoot to explain your situation. They may offer some options for temporary relief or restructuring of the loan. You can inquire about loan restructuring or a moratorium to temporarily suspend payments until you regain employment. Some banks offer these options during financial crises. If you're unable to negotiate with the lender, and the loan goes into default, it can have legal consequences. It may affect your credit score and lead to legal action by the lender.
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