Dues emi

Querist : Anonymous (Querist) 15 September 2011 This query is : Resolved
Dear Sir, my mom have 2 wheeler lone from bajaj finance. but last 4 month my mom cant paid emi for some financialy problem. and today my mom got notice from Advocate. sir please suggest me what can i have to do?? can police arrest my mom.. my mom is 50 years old.

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ajay sethi (Expert) 15 September 2011
please refer to your loan agreement . there must be a provision in event of default the finance company can recover outstanding amount with interest . also power must be given for company to take reposession of the 2 wheeler .

you can request the company to reschedule your loan reduce the amount payable in monthly installments .

police wont arrest your mom

Querist : Anonymous (Querist) 15 September 2011
Thanks ajay, there any outher way??

ajay sethi (Expert) 15 September 2011
what is financial position of your mother . if she dosent have any assets move the insolvency court for declaring her an insolvent

Raj Kumar Makkad (Expert) 15 September 2011
Repeated query already replied in details.

Sailesh Kumar Shah (Expert) 15 September 2011
http://www.lawyersclubindia.com/experts/Dues-of-installment-230436.asp

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