Payment defaulter

hi,

I have opted a personal loan of Rs. 125000/- from HDFC bank in August 2013. Then I lost my job in November, 2013. The situation made me financially sick. Thus, I was missed the EMI and couldn’t pay the loan amount. Now I got the small job with only salary of Rs. 15000/- pm, which is not enough to repay the loan and survival of my family. The HDFC bank executives asking me for payment of Rs. 108000/-. For the same I am unable to pay this huge amount.  Now, they are abusing me and my relatives for the payment of loan.  They have got mobile nos. of my relatives and threatened or abusing them for payment. I am not in situation to pay the amount, I need some time for collection of money but they people are not agreeing for the same. Now what I do, someone please help me or suggest me what should I do.

Jitendra

Mr. Saurabh confirmation through mail is valid in eyes of law but if you opt for case do it within three years from the promise date of payment by sending a legal notice 

@Saurabh:First make him commit/liable to the payment by issuing him a demand notice narrating the details and mentioning him about the contract he had entered with you without mentioning that it was in email format and not in hard copy format.  Let him give a reply either denying the payment or asking tim for payment, afterwards you can file a money recovery suit against him, but before that if he is ready to give a blank cheque or filled cheque towards the payment or security, obtain it, get it bounced and file a cheque bounce case.  Consult a lawyer and proceed further as per his advise.