Personal Loan
6 months ago
My EMI due on 05 oct 2023, but got missed due to financial crises, I request to wait for month end, but they give legal notice to pay amount with in 7 days,
because of health issue i am not doing my properly my job and those amount i received that amount spend to home food and rent
A.Dear Sir,
Just ignore such legal notice and you can clear all the EMI’s within next few months. You may get issue a legal notice if they again issue second legal notice.
Just ignore such legal notice and you can clear all the EMI’s within next few months. You may get issue a legal notice if they again issue second legal notice.
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A.Dear
Here are some steps you can consider taking:
Discuss with the Lender: Contact your lender immediately and explain your situation. Provide them with details regarding your financial constraints and health issues. Ask if they can provide you with a temporary solution, such as a grace period or an alternative payment plan.
Provide Documentation: If possible, provide the lender with any supporting documentation, such as medical records or a doctor's note, to substantiate your health issues. This can help them understand your situation better and potentially provide you with more flexibility.
Consider a Loan Restructuring: In some cases, lenders may offer loan restructuring options that can temporarily reduce your EMI amount or extend the loan tenure to make the repayment more manageable.
Explore Government Schemes: Check if there are any government relief programs or schemes that could provide financial assistance or relief for individuals facing temporary financial hardships.
Seek Financial Counseling: Consider seeking help from a financial counselor or advisor who can provide you with guidance on managing your finances and debts during challenging times.
Understand Legal Implications: It's crucial to understand the legal implications of the legal notice you've received. Failure to act may result in legal action, affecting your credit score and potentially leading to further financial difficulties.
Here are some steps you can consider taking:
Discuss with the Lender: Contact your lender immediately and explain your situation. Provide them with details regarding your financial constraints and health issues. Ask if they can provide you with a temporary solution, such as a grace period or an alternative payment plan.
Provide Documentation: If possible, provide the lender with any supporting documentation, such as medical records or a doctor's note, to substantiate your health issues. This can help them understand your situation better and potentially provide you with more flexibility.
Consider a Loan Restructuring: In some cases, lenders may offer loan restructuring options that can temporarily reduce your EMI amount or extend the loan tenure to make the repayment more manageable.
Explore Government Schemes: Check if there are any government relief programs or schemes that could provide financial assistance or relief for individuals facing temporary financial hardships.
Seek Financial Counseling: Consider seeking help from a financial counselor or advisor who can provide you with guidance on managing your finances and debts during challenging times.
Understand Legal Implications: It's crucial to understand the legal implications of the legal notice you've received. Failure to act may result in legal action, affecting your credit score and potentially leading to further financial difficulties.
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