I have taken a personal loan from a bank for rs 194000 in 2007 and i have paid the 18 EMI's correctly. Due to some unavoidable personal problems i have not been able to pay the remaining EMI's correctly and i got relocated to bangalor in 2009. i received a phone call from the bank this january 2013 stating that we have raised a arrest warrant on you if you do not settle the balance amount immedietly. since i am inbetween jobs right now its not possible for me to pay the bank immedietly.
we went to the bank to ask for more time and they didnt even listen to us and kept on asking us to pay with in march 28.
Also the bank officials say that they will arrest me in the ground where i have given some security cheques for getting the loans.
they have given time to settle the loan within this march 28 or i will get arrested.
is there a possibility that i will get arrested or since i need more is it ok to go the legal proceding the settle the case in the court.
help needed Please .
Any help is appreciated.
Thanks.
