Rescheduling of EMI's
AkshayAjay
(Querist) 15 November 2009
This query is : Resolved
I have taken a Mortgage loan from an MNC Financial Institution, i am paying 2 emi's Rs.27000 & 14000 which are presented on 7th of every month due to recession & scale down in bussiness activiities i requested them to reschdule the presentment of one emi amt ie 27000 to 21st of every month by taking an advance EMI but they refused it I complianed to rbi ombudsman & NHB after the complaint also they refused to alter the presentment date, is their any legal course of action and will it be suceessful please help
adv. rajeev ( rajoo )
(Expert) 15 November 2009
It is agreement between you and finance co., now you cant do anything because there will be an agreement deed.
Whats the fate of your complaint?
Raj Kumar Makkad
(Expert) 15 November 2009
It is better to convince MNC authorities personally and if those convinced, it shall be better to alter the term of repayment accordingly because no court can go beyond the already agreed term between the parties to the agreement. FC is not going to lose anything rather you shall feel better to repay their loan amount.
