i had taken a loan from a financial institute called Future Money. This was a personal loan taken in April 2008. I have paid more than 12 EMI's however in past few months i could not pay because i was jobless due to recession.
The case is now with a collection agency. Someone from the collection agency had come to my house today stating that the bank has issued a non bailable warrant against me as i have not paid the EMI's.
I have never recieved a legal notice from the bank.
Is it possible for the bank to issue a non bailable warrant against me without any prior notice??
What should i do in this case???
Waiting for replies eagerly as i dont really know what to do