time limit to file a claim
Shalini
(Querist) 31 January 2016
This query is : Resolved
Hi,
As I asked earlier please tell me what is the time limit fpr bank to file a case for personal loan defaulter.From the date when loan is disbursed or the date when last emi paid.what happen if they file case after time limit.I have given them my permanent address but they did not have any residential proof because at the time of loan sanctioned they only took my rented proof not permanent address proof so can they send summon to permanent address?I want to repay loan but it will take more time.I didn't want to default but I was not able to make payment after 5-6 emi I lost my job then health issue after that my husband lost job too so we are in huge debt after that I conceived and doctor advised me to quit job and now I am a mother of 9 month baby .I was always thinking to settle the due but unable to do that because of huge debt I am tensed from last two years from the date defaulted defaulted do not know ehat to do.please advise me.
Thanks,
Shalu
prabhakar singh
(Expert) 31 January 2016
3years from the date of last payment.
Rajendra K Goyal
(Expert) 31 January 2016
Three years from date of last payment / last acknowledgement of liability.
If unable to deposit EMI, deposit something in your loan account every month and try to get rid of liability as soon as possible.
Devajyoti Barman
(Expert) 31 January 2016
Yes however this 3 years can be extended if within that time there is written acknowledgement from the borrower about such debt.
