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Juber (nil)     27 January 2011

Summons for ECS Bounce

I have taken a personal loan from a Finance Company and after 24 instalments I defaulted, due to loss in business.

I requested the finance company to accept lower EMI  on temporary basis and sent a letter with AD. But got no response from them. However I paid the lowered amount what I requested  to them,by cheque. Later they send me a Summon and charged me under SECTION 25 PSS Act, As amended.

I have no sufficient fund for a settlement at this moment.

I got no idea what to do? please help.



Learning

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