Issue regarding Payment of EMI

I took a personal loan from a bank. I have paid 25 EMI’s till date. But now am not able to pay back the loan as i was recently removed from the job. Now I am receiving threats from the recovery agents. Recently one person called and started abusing regarding the recovery and said he was a police officer. What can I do now? My financial status is very bad right now.

Team Legistify

You cannot avoid paying the EMI of your loan account,you can approach the concerned bank manager for settlement of the loan account and start paying the EMI,if they resort to recovery agents,you can file a complaint with the local police station for harassing you by muscle force.


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Tags: Default or Fraud General Legal Money Recovery

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