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Q. Unable to pay Loan and Credit card dues

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Anonymous

posted 1 month ago

Q.Unable to pay Loan and Credit card dues
I am having loan outstanding and Credit Card outstanding. A year back I had to leave job due to sickness. Still I was paying my loans and credit card using my personal. For the past 4 months I am unable to pay and hence faced calls from lenders and house visits. Now I have recovered from my sickness and looking for jobs. What I have taken from the banks I want to pay back but I need time, if I mail them they bluntly says they don't holiday period. So I consulted a lawyer he said we can file a case saying that 1. Not to disturb me for certain period and I will pay them after that. My questions is there a law which will give me time and also relief from the house visit executives. If so how much time will I get. What happens to the Interest? Will it shoot to a HUGE AMOUNT for the time I get to pay or start repayment. My intention is not to cheat, what I owe I will repay at any cost. For that I have to earn and have a peace of mind to earn it and pay them back.

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Shreyash Mohta

Experience: 1 Year(s)

Responded 1 month ago

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A. ) Talk to the bank authorities and convince them.

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 1 month ago

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A. ) Meet to the branch manager and inform about it or convince them. Then it will be possible

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J S Pawar

Experience: 3 Year(s)

Responded 1 month ago

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A. ) Hope u r based in Mumbai

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J S Pawar

Experience: 3 Year(s)

Responded 1 month ago

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A. ) The best remedy in this matter is to approach the Top management of the bank or at east higher grade concerned zonal or your branch Manager and request to stop recovery process. U can alternatively ask for renewal of loan by carrying forward present outstanding dues as a fresh loan if ur upto recent times loan repayment history is sound n healthy. U can get help.

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