I have received a notice from lok adalat
passion12
(Querist) 19 December 2016
This query is : Resolved
I have received a notice from Lok Adalat. I have taken an personal loan of 8 lakh in June 2012.i was working with MNC company and due to some reassign left may job from there aug 2016 but didn't get any job. Now what should I do. I am not able to pay any amount at this time. But I can repay my loan amount in 4 to 5 months. Can I get this much time to repay my loan? Please advise me. Or should I send a lawyer in place of me at lok adalat.
adv.bharat @ PUNE
(Expert) 19 December 2016
Please put the same fact in the reply to notice.
If u consult local lawyer then u get proper guidance for it.
Will u appreciate this answer by giving like on my LCI profile?
Kumar Doab
(Expert) 19 December 2016
It shall certainly be better to discuss in person with a very able counsel and show all docs on record fr a considered opinion and prepare your response, before you appear.
Bank is trying to get its good money.
You have borrowed and you should pay.
R.K Nanda
(Expert) 20 December 2016
u can also appear in person in LA and seek time to repay said loan.
Kumar Doab
(Expert) 20 December 2016
Agreed with Mr. Nanda.
You can appear in person.
Rajendra K Goyal
(Expert) 20 December 2016
May proceed as advised by the expert R.K. Nanda.
Dr J C Vashista
(Expert) 27 December 2016
You are given an opportunity to present your case in Lok Adalat for non-payment of loan and seeking some more time for refund of amount of loan + interest + penalty as per Bank/lender's policy.
Engage a local prudent lawyer to protect your interest in recovery of the loan amount with interest and penalty imposed by the Bank/ lender of money to you.
