Civil Procedure Code (CPC)

Loan Defaulter

I have taken loans from few banks. I have 2 months EMIs pending. I lost all the money in business loss. Loan details are below, HDFC Credit card - 2 Lakhs Bajaj Finance - 2 Lakhs Axis Bank - 2 Lakhs SBI Credit card - 2 Lakhs ICICI Bank Credit card - 35 Thousand CITIBANK Credit card - 1.3 Lakhs Car Loan - 7.5 Lakhs Right now I have no source of income. By the end of July I will start earning by driving cab. Will there be any case lodged against me before that? If so, will I have to take bail? How should I take this forward? Please advice.

This is the first time in 8 years I have defaulted. I have never stopped paying loan til date.



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