Personal Loan Defaulter
Querist :
Anonymous
(Querist) 06 January 2011
This query is : Resolved
Dear Sir,
I availed personal loan from some bank in the year 2009 April. Due to recession i lost my job in the year 2010 April. Due to recession i could not able to pay the emi's since from 8 months.. Now, they have sent me a Legal notice. As per their request i issued cheque at the time of Personal loan agreement . Now, with out any intimation or noitice to me they presented cheque in the bank, and it was bounced due to insufficient funds. In the Legal notice, it is mentioned that under section 138(b) they are going to take legal action incase if i not paid the full amount with in 15 days of time. 15 days back i joined in some company now i decided to pay off the amount in two months. So, I request your goodselves to give your valuable suggesstions in my case & if any advise from your side it will be highly appreciated.
thanking you,
advk
Guest
(Expert) 06 January 2011
issue a reply notice to that effect by expressing your willingness. Any how the bank will file a dishonur case against you. you appear and get time in the course proceedings arrange funds and settle the amount before delivering judgement
Pritam Saini, Advocate
(Expert) 06 January 2011
As per your case you should reply notice and atteched demand draft of part payment in favour of bank. if the bank accept part payment they will be barred to file complaint on the basis of bounced cheque.
