aldrich (Partner) 05 February 2011

Bank Executive harassing me....

Hello,

I took a loan in the year 2008. I was paying regularly when I was in job but since I lost by job I am unable to make the payment regularly. Now I am in 7th bucket. I want to repay it anyhow and am trying to do so everymonth so that atleast 1 installment is paid. This month my situation is too bad that I can't see any way paying it. The bank executive is simply calling me 5-6 times daily for follow up. I told him if I am able to arrange the amount then I would defenitely do it. Pl. help me out. Is there any option where in we can increase the repayment period by minimizing the amount or anyway we can hold for 3-4 months till the time my financial situation gets better.

Thanks & Regards,

Aditya.

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2 Replies

adv. rajeev ( rajoo ) (practicing advocate) 05 February 2011

According to repayment schedule you will have to pay. You can appraoch the bank manager for reschedule of repayment.

J. P. Shah (RTI & CONSUMER ACTIVIST) 05 February 2011

Please visit https://www.lawyersclubindia.com/share_files/HOW-TO-ADDRESS-PROBLEMS-WITH-BANKS--2013.asp. You should convey in writing to the bank manager your situation. RBI has been advising banks to take into account situational compulsions of borrower before initiating recovery measures. Obtain ban's dated acknowledgement of your representation on its photocopy.