Loan debt
4 years ago
I have 2 unsecured loans and one secured loan but cannot pay emi of secured one right now, can i stop my Emi for a while for my unsecured personal loan and pay for my secured home loan and what are the repercussions that i have to face/solution
A.Dear Sir,
You may approach the bankers and senior officers and you may get appropriate reliefs.
You may approach the bankers and senior officers and you may get appropriate reliefs.
Helpful
Helpful
Share
Kirti Thakur
Responded 4 years ago
A.If you stop paying EMI your loan provider will initiate Legal proceeding against you. That may be proceeding under section 138 of NI Act (cheque bounce ) or Suit for recovery.
Helpful
Helpful
Share
Read Related Answers
For bank loan
Dear Client,
the loan amount must be repaid by the legal heirs of the deceased or the nominee by the deceased if the assets would be frozen by the bank. there is no other legal remedy to non payment
Bankruptcy and Debt
Dear sir,
You may join any reputed NGO and render your personal service where you can get at least free accommodation and boarding.
Strong Legal Notice--Recovery of amount
Dear Client,
Unfortunately, there are no legal remedies for illegal issues. A contract for an illegal purpose is void from the beginning and in case such an illegal act is revealed from any source, bo...
Bajaj Fin Overdraft loan default
Dear Client,
A borrower of a loan or debt is held liable personally for his or her debt for non-payment of the outstanding amount of the loan. Once the repayment of the loan stops or bounces for cons...
Unsecured busniess loan default
Dear Client,
Under the CGTMSE Scheme, in case of default by the borrower subject to the overall guarantee cap amount, the liability of the Trust in respect of credit facility shall be in case of Term...
Read Blogs on Bankruptcy and Debt
Bankruptcy and Debt Lawyers
Find Lawyers by Location
