loan against property
10 months ago
my father had taken a loan against property from hdfc bank , we had missed few emis due to my father was admitted into hospital for more than 6 months. we have been giving emis in middle and even last month also but have missed 6 emis in total, now bank is asking to pay default 6 emis all till end of month else they will seal and sell the house, i had asked for one more month tym like i can pay one emi this month and clear the pending 5 emis by next month as i will be getting my bonus, but they are not listening, wanted to know what all i can do now
A.Dear client
Once you become defaulter in repayment of loan, it's the routine process Bank adopted against the defaulter to recover the dues.
However you can approach higher authority explaining your constraints for consideration. Litigation may not yield any fruitful results at the moment instead it may injure your CIBIL record apart from other consequences.
The best way to convince the Bank to resolve the issue ASAP.
Once you become defaulter in repayment of loan, it's the routine process Bank adopted against the defaulter to recover the dues.
However you can approach higher authority explaining your constraints for consideration. Litigation may not yield any fruitful results at the moment instead it may injure your CIBIL record apart from other consequences.
The best way to convince the Bank to resolve the issue ASAP.
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