Loan not repaid

Had you discussed your personal problem that would have better solved your exact problem, rather than gaining general knowledge, which may probably not sufficient to serve your purpose.

 

However, default in repayment of the dues of personal loan/credit card bill may render following types of problem in general:

 

- frequent harassment  and insult in office as well as home of the debtor, family members, as well as the close relatives and even friends, if they get information;

 

- Report to CIBIL that may downgrade credit rating of the debtor to make him unable to get any loan from any bank/ financial institution.

 

- Revovery suit in the court of law even for attachment of property also, if the amount of loan dues including interest is considerable;

 

etc.

Thank you sir for you suggestions!

If the did not deposit any security cheques to bank at the time of getting loan thereafter also bank knocking the door of bank? 

Loan need to be paid. Go for compromise settlement for waiving interest part

But I have no money and already stopped the payment in many loans and I am very furstrait what to do.

I changed my phone numbers, house address, Job and told to family members to lodge FIR if recovery people threaten them

Please suggest how to handle recovery people so that I will not have to pay money to bank.

 

You should not have expected suggestion for unethical manners from the members to stop recovery. You have to use your own wisdom, how to tackle the recovery people.

in ethical manner you have to repay loan amount . butw in caseyou are not able to in this condition approach to recovery person. tell him your geniune problem . i am sure if you can repay in installment they will agree. even they can waive your interest and panelty. 

this is the easy way  they can not come to your door . 

in ethical manner you have to repay loan amount . but in case you are not able to in this condition approach to recovery person. tell him your geniune problem . i am sure if you can repay in installment they will agree. even they can waive your interest and panelty. 

this is the easy way  they can not come to your door . and you will feel mantly relax

Approach court and sue the bank for harassment and get relax from physical. Disturbing. .. seek time for repayment as well clear your intention of paying back the due subjected to current earnings. Banker had taken business risk to give loan without any binding it is a business call of bank (the repayment schedule and intrest rate is high) you paid high intrest so bank knowingly taken risk cool you have not cheated. No need to run try pay back God bless you

Approach court and sue the bank for harassment and get relax from physical. Disturbing. .. seek time for repayment as well clear your intention of paying back the due subjected to current earnings. Banker had taken business risk to give loan without any binding it is a business call of bank (the repayment schedule and intrest rate is high) you paid high intrest so bank knowingly taken risk cool you have not cheated. No need to run try pay back God bless you