Non payment of loan taken from Banks / credit card dues.
Querist :
Anonymous
(Querist) 04 June 2011
This query is : Resolved
Dear All,
Can I have an expert opinion on the following issue which is faced by one of my friend.
1. My friend was an govt employee and was working in A town and compelled to resign from his job for some reson / union problem/envy etc.
2. He had availed Personal loans / credit cards etc from Banks / financial institution.
3. He was paying his dues regularly till he come out of the job and could settle only to a few out of the retirement fund etc. Due to threat and forceble confinement from the pvt moneynlender etc and further to support his family he left the A city and come to live in B city.
4. All this happend in the year 2000-2002 and he has availed all the loans etc also during that period.
5. He settled in B city during 2004.
6. After settling in B city he could early only a smaller salary and that is sufficient to support his family alone hence he did not pay any of his loan borrowals / credit card dues.
7. Now, some how some collection agents or other sources tracing his telephone number giving annonymous calls for payment etc and they are giving arrest threat also.
8. In these circumstances he is much worried in case something happens what sort of protection he can take as he cannot pay any amount as per his present condition.
Pl advise what has to be done to protect himself and his family.
Guest
(Expert) 04 June 2011
HE HAS BANK AND OTHER LOANS OUTSTANDING.
FROM MOBILE NO.HE CAN BE TRACED BY POLICE AND OTHER ANTISOCIAL ELEMENTS.
BANKS MUST HAVE OBTAINED COURT ORDERS AGAINST HIM. HE MAY TRY TO DEFEND THROUGH LEGAL EXPERTS THE PENDING COURT MATTERS AND TRY TO SETTLE THE COURT MATTERS.IF POSSIBLE .
REPLACE THE SIM CARD AND GET NEW NO.AND CHANGE THE RESIDENCE TILL HE IS CAPABLE OF REPAYMENT.GOOD LUCK.
