Kevin Vargheese 14 March 2018

Need Help

Hi, I have a personal loan with HDFC bank Pune. Due to some personal reasons I was unable to pay Feb 2018 and current month i.e. Mrach 2018 EMI. I have been in contact with a bank representative who talks so rudely as if I have taken money from him personally even after letting him know my financial conditions where living for a day also has become a challenge for me but all he keeps threating me about is sending some legal document to my home town! My question is it's just 2 EMIS of 10k each! can't the bank give me an extention? Does the legal notice really needs to sent to 2 missing EMIS? Please help me understand!

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3 Replies

R.Ramachandran (Advocate) 14 March 2018

Bank is the lender and you are the borrower.

Bank has every right to try and recover its dues.

The borrower cannot dictate terms to the lender.

Yes, you have done the right thing by intimating them your financial position. Yes, the Bank can definitely given you extension of time for paying the EMIs. But please appreciate the position of the bank also. Are you sure that you will be able to pay the EMI for April 2018? Have you indicated a definite time frame when you will make the EMIs?

IF NOT, then how can you have any grouse against the action of the Bank?

Kevin Vargheese 14 March 2018

Yes sir I have given them a exact date that is for the payment of feb I can pay by Monday and the EMI for March and April on April 2nd once I get my salary! But bank representative is saying that if not paid the whole amount today they will send a legal documents today :(