Abhay Singh 19 January 2020

personal loan default

hi
I have a loan account from hdfc and made all the payments in time for 2.5 years however due to bad financial situation I am facing difficulty in paying current emi and already defaulted two emi .I already met bank officials and ask them to reduce emi and increase so that I can continue making payments . They denied and tell me that bank will start legal proceeding in next two days . I missed my emi of December 2019 and January 2020 . What should I do now as I can not pay bank emi amount it is to high as per my current situation .please advise
abhay pratap singh

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Quick Summary

If you've defaulted on your HDFC personal loan, even after making timely payments for 2.5 years, and the bank has denied your request to reduce EMIs, legal proceedings may be imminent. With two EMIs missed (December 2019 and January 2020), you may need to explore options like borrowing from friends or family to cover the outstanding amounts and avoid further action.