Loan recovery
4 years ago
I took a loan of 1lac , 1 year back and paid only 6 EMI out of 12 due to some financial loss and now want to pay remaining EMI with resettlement of loan of pending amount. Company has bounced given advanced cheque and send me a notice of full amount. Kindly suggest and advise for solution.
A.Dear Sir,
It is happening so in many cases as borrowers give blank cheques to the financial institutions. You may produce all the evidences having paid six EMI’s and get a reduction at the time of getting judgment.
Please contact me through the administrators of this website.
It is happening so in many cases as borrowers give blank cheques to the financial institutions. You may produce all the evidences having paid six EMI’s and get a reduction at the time of getting judgment.
Please contact me through the administrators of this website.
Helpful
Helpful
Share
Sandeep Pingale
Responded 4 years ago
A.1) You can go to office of bank and meet to any responsible officer of bank and told them to extend or revive your loan .
2) Allow some extended time to repay till bank to stop take any severe actions against you.
3) If bank refuses to that then you can contest NI case on the ground of cheque was not given for repayment of loan.
4)Cheque was taken by Bank.for security of loan.
5) Meantime of case you can negotiate for amicable settlement of cheque case and return payment of loan.
2) Allow some extended time to repay till bank to stop take any severe actions against you.
3) If bank refuses to that then you can contest NI case on the ground of cheque was not given for repayment of loan.
4)Cheque was taken by Bank.for security of loan.
5) Meantime of case you can negotiate for amicable settlement of cheque case and return payment of loan.
Helpful
Helpful
Share
Jagannath S Pawar
Responded 4 years ago
A.Cheque bouncing is a criminal offence attracting punishment of imprisonment as well as double the fine of Bounced cheque amount if sufficiently and effectively proved by the Complainant. Try to settle it or contest well through good Lawyer. There is always chance of compounding which u can utilize at later stages too when u r able to pay. If need be, plz contact through Vidhikarya.
Helpful
Helpful
Share
Read Related Answers
Regarding surity and stay of execution
Dear sir,
You have to implead yourself as a party in the pending case if any otherwise file separate case to discharge you from suretyship.
Recovering Loan given to a Friend
Dear sir
As cheques are undated you can file cheque bounce case which is financially feasibly and you need not pay any court fees.
Credit card payment
Dear Client,
You can try to negotiate a debt settlement with the Bank on your own if your pocket permits to repay the entire outstanding of your credit cards at a time for a one-time settlement of du...
Joint account Chaque with minor signature only
Dear Sir,
Please check whether cheque is acceptable with the signature of minor normally it is not acceptable. Please get an endorsement from the Bank and then get issue a legal notice as provided und...
Cheque and pronote
Dear Sir,
You have done a blunder mistake. However, you may approach the Police and lodge a complaint of cheating for not returning your cheque leafs and pronotes. Even if no action is taken by the Po...
Read Blogs on Debt and Lending Agreement
Debt and Lending Agreement Lawyers
Find Lawyers by Location
