Amrut Jadhav 08 November 2019
Sb Karma 08 November 2019
Originally posted by : Amrut Jadhav | ||
Hello i need a help.. i am in financial trouble from last 30 days i have taken unsecured business loan of 2 lacs FOR 24 months Emi i paid 6 EMI but now due to business downfall and personal issues i didn't paid EMI for September. Recovery person headed to my office and forced me to pay EMI i explained them and even showed them my current bank balance is 100Rs only and my EMI is 10800/-That person said he is legal manager he will seal my office if i dont Pay EMI. I told them atlest next two months including this EMI i cannot make Any payment untill financial conditions are stable.That person said me he will deposit my security cheque and will stretch you to court matter I have genuine problem My query is ( How can they seal my office if i have not mortgage it )( And how can they deposit final cheque without prior notice ? )I talked to their seniors they just saying ask any relative for money and pay EMI i said i cannot because I took loan for my growth i can not borrow money from any one I really don't have money to pay EMI what can i do next please guide me well. |
did you took loan from any bank or NBFC ??
RadhaKrishna Murthy K 08 November 2019
Amrut Jadhav 08 November 2019
Amrut Jadhav 08 November 2019
RadhaKrishna Murthy K 08 November 2019
RadhaKrishna Murthy K 08 November 2019
G.L.N. Prasad (Retired employee.) 08 November 2019
First, make an application through Regd Ack Due requesting for rephasing EMI due to unforeseen financial problems and request them not to present cheques if any given. These are mere threats and they can not the possession of any of the assets and it is normal threats by NBFC. They are aware that if they approach courts it may take years. As your commitment for rephasing the loan is in writing, and as they can not get any remedy through court within one year, they have to accept. But, they may levy a very heavy penal rate of interest. If you can get such an unsecured loan from a bank, avail that loan and repay NBFC before they reduce your credit rating. All this at the costs your credit rating and may pose problems in availing loans in the future.