Non Payment of NBFC Loan being Threatened


Hello I have taken Unsecured Business loan from NBFC amount is 200000/- I have paid their 6 EMI on time 10837/-. But now because of personal problem and my business was shut down for two months I could not pay their 2 EMI. There collection manager daily visitng my shop siting inside and forcing me to pay emi. They are threating me that they will go out and shout loudly or call whole else NBFC team and sit inside shop daily. Else deposit security cheque and jail me... I explained them my situation they're saying they will drag me to court they will seal my shop instantly. They are not letting me do business how can i repay their EMI then ? And I did not provide them any property documents how can they dare seal it? It was just loan against bank statement and cheque for security. I explained then I am not escaping i will run business well and repay remaining EMI on time. But they are not in mood to listen. I really want to pay their dues but atleast now i can not. What's the solution?
 
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Originally posted by : Amrut Jadhav
Hello I have taken Unsecured Business loan from NBFC amount is 200000/- I have paid their 6 EMI on time 10837/-. But now because of personal problem and my business was shut down for two months I could not pay their 2 EMI. There collection manager daily visitng my shop siting inside and forcing me to pay emi. They are threating me that they will go out and shout loudly or call whole else NBFC team and sit inside shop daily. Else deposit security cheque and jail me... I explained them my situation they're saying they will drag me to court they will seal my shop instantly. They are not letting me do business how can i repay their EMI then ? And I did not provide them any property documents how can they dare seal it? It was just loan against bank statement and cheque for security. I explained then I am not escaping i will run business well and repay remaining EMI on time. But they are not in mood to listen. I really want to pay their dues but atleast now i can not. What's the solution?

 

Same topic discussed in earlier and reply there too...so go through the topic

https://www.lawyersclubindia.com/forum/details.asp?mod_id=205390&offset=0

 
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