Hi Respected Members,
I have taken a personal loan of 2,20,000 Rs in the year of 2008 Feb and i could pay only 3 EMI's as i was out of job immediately. Currently my situation is still the same and i am not in a position to re-pay the loan.
I have been getting calls from the bank asking for repayment of loan.
I have taken the loan from Barclays bank in 2008. Now i am getting the calls from KOTAK bank asking for re-payment of the loan. I am not in a position to re-pay the amount.
I have not done any loan agreement renewal with the bank. My concern here is that KOTAK bank will they able to proceed with any legal charges against me in this situation? Also would this kind of legal action could stop me from going abroad? ( The reason for this is that KOTAK bank is saying they will proceed legally and they will make sure i cannot apply for job or go away from India ) Is it possible?
Regards,
Upendra
