personal loan default

om (Querist) 10 March 2017 This query is : Resolved
Dear Sir,
I taken a personal loan Rs. 4.5 lakh from HDFC bank for 5 years. I had paid 36 emi after that I lost my job and I am unable to pay Emi. What will legal action take?

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Dr J C Vashista (Expert) 12 March 2017
An appropriate legal (even illegal) action will be taken by HDFC Bank to recover balance of loan, interest and penalty as per banking rules/ norms and practice, which cannot be predicted.

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