Upgrad LLM

bank people harrasing us.


Greetings for the the day!!

I have taken 7 Lakhs loan from three different banks for sister marriage and paid 4-5 EMIs and i met with an accident  and i was severely injured and my leg got fractured and i was bedridden for 3 months now. Doctor advised me to take rest for 6 Months.

I havent paid my EMIs from past 3 Months and they are harrasing us daily and asking us to pay off the entire amout.

I met bank people and showed them my medical documents and told them that it will take 3-4 months to start my EMIs. Daily one or the other bank guy is coming to our home and harrasing us.

I requested them a lot but they are not listening, this is happening everyday and i feel like commiting suicide but i have to live for my wife and parents.

Is there any way to stop them for 3-4 months till i get a new job and start making payments.

I beg u guys to help me in this concern, will be grateful to you.

Thanks in advance..

 
Reply   
 
FIN

You have borrowed and you have to pay. You have expressed your inability to pay that is why Banks/Bankers are asking to pay entire amount.

 

One option is that you may minute the discussion you had with Banks/Bankers, in writing and attach the copies of docs that you have shown.

Other option is that you may record the visits calls of agents and lodge police complaint and proceed further thru your able lawyer.

 

 

 

 
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Dy Director

the bank is well within time frame and can file court case and they probably want to give you chance for early refundwithout litigation.

 

They may be visiting your gurantors as well.

 

It was your choice to perform marriage beyond resources.

 
Reply   
 

I agree but i never said that im not going to pay the loan.

I have been taking loans from these banks from past 7 years and i never failed in a single EMI, and my credit score is very high. even after checking their old records, they are repeating the same thing. Is there a way to file insolvency for 3-4 months and once i get a job will start my EMIs..

 
Reply   
 
FIN

The past record does not guarantee that borrower shall pay again.

For bank and banker each lending and recovery is a challenge and there are set protocols and repurcussions for eact default and failure.

There is huge social stigma attached with 'Insolvency' also.

It is reiterated that you may rather visit and speak to a seasoned lawyer and look for suitable remedy that your counsel can explain to you in person.

 

 

 
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Logical and Legal Advisor at Family Court

Anyway you are maahir in taking loans, raise another loan to get away from these nuisance people.  But this time tell them that this is your haalat, and you wont be able to pay back EMI till this this date.

 

Idhar ka udhar karo bas, mamla thanda hoga, aur u can as well tell the same story to new bank.

 

Lesson:  Never take loan for marriage.  Thats the most pathetic thing to do. Be it sister ka marriage ya phir khud ka.  Its a bad way to start a future. The great Indian tragedy.

 
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