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Zeba (Was Executive)     20 July 2013

Unpaid personal loan, unemployed

Hi, when I was working in Bangalore, I was pestered by this new bank to take personal loan from them, finally I relented (big mistake from my part), so loan was given just based on my salary slips. I had been paying regularly for 15 months Rs.7500 every month. But my company closed and I had to quit. Then I met my husband and he brought me back to UK to settle down. I had inform the bank that I could not pay and didn't hear from them for 4 years, until recently when they visited my widowed mother and threaten to take over her property and involve police. I called them up and try to reason on a smaller settlement as due to recession I didn't get job since I landed in UK and my husband also lost his job, we are living on the goby benefits system and also have a disabled son. I asked them for time to try and get at least just 50% of the amount from friends n families but they would not listen, now they say they are sending a legal notice and will extradite me to face jail. I'm so scared and petrified, I cannot afford to fly to India, please advice what to do, most appreciated.


 3 Replies

subrata chandra polle (advocate)     20 July 2013

Kindly inform whether the said loan is secured by way of any mortgage of any immoveable property. Under the Indian Legislation (SERFACIE Act) bank / financial instituion can take action against you subject to terms and conditions of the loan agreement. Even the bank can file a regular suit.

Zeba (Was Executive)     20 July 2013

No the loan was given based on my salary slips only. The bank has just ventured in Bangalore and I guess they just want customers because he assured me that he doesn't need anything else except my salary slips and bank statements.

Gaurav (Agent)     21 July 2013

Sit relax nothng gonna happen... Just chill nd enjoy UK... Its illegal to force you to pay back . They can only recover it if any mortgage is there as u said they hav givn u on d basis of salary slip so no need to worry..

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