jaywant 23 April 2021

home loan emi bounce

Hello everyone.
i ve taken home loan from AAVAS finance in the year 2015 n till dec.2020 i have paid rs.19Lakhs 60,000.
I lost my job in april 2020 due to pandemic and even though i paid emi till dec 2020.
I requested to thm give extension for at least 6 month, once our income wil be regularise i will start to pay.
but they are not helping to any customer.
my last 3 emi pending and they send lawyer notice...even their executive are contineously calling for money.
they are saying as per RBI your flat will consider as NPA.

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6 Replies

Ankur Mishra 23 April 2021

9305791926
Mr.yashwant first of all you should given a detailed reply of the notice to the bank and keep a copy of the same along with the postal receipt so that further action may be taken by you

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jaywant 23 April 2021

all right Sir..Thank U

Sankaranarayanan (Advocate) 24 April 2021

Loan should be repaid is your duty , explain the situation in your reply of notice and act accordingly

munaga rao 24 April 2021

The bank sanctioned loan primarily based on your capacity of employment getting monthly salary and other perks to repay through EMIs. The bank might have asked you deposit your monthly pay slips etc. In the given scenario you lost the job. Submit the copy of the same and your request to extend time of 6 months is much genuine, even they can not charge you any other crooked elements of penalties etc.

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Dr J C Vashista (Advocate) 25 April 2021

The AAVAS finance is a banking or non-banking financial company ?

Govt. / RBI has also instructed the NBFCs/ Banks to give relaxation in recovery of dues considering current pandemic situation / jobs/ income of borrower(s), as it is in your case.

Settle the matter amicably with the financier avoiding legal recourse.

jayant dhuri 25 April 2021

Respected Sir, Aavas is a non-finacial. AAVAS FINANCIERS LIMITED (Formerly known as Au HOUSING FINANCE LIMITED) in the year 2015, they sansaction home loan due to my heavy income. As my all income depends upon abroad projects.I am working in oil and gas industry as a refinery designer. and from april 2020 our all projects hold. so I requested so many time. also told them i paid from 2015 to dec 2020 total 19 lakhs 60 lakhs. now our job is hold. give me extension for 6 month. or before that our project will start i will pay emi . Also told them don't show it in cibil.But aavas management never help to me as well as their other customer. hdfc was giving me PL but they said 3 emi are showing bounce. If i get PL i will use that money to repay. But aavas is not also helping in that manner also...they are saying RBI is not giving nay instruction us to give extension to customer, now you have to pay emi, their exeutive are really harrassing...I told them wait till i will sale my home. RBI or other GOVT.body should give notive to all bank about to give extesion to customer in any kind of loan. this is not my case, most of the public lost their job. RBI is thinking all are getting regular income in this pandemic. ONLY Banking sector and GOVT.sector people are getting salary in this pandemic.and all other's income hampers.

Thank you very much Sir for your valuable advise.