Case for a bank loan for defaulting on one EMI

Question

Q: I haven't paid my dues to the bank. I have already paid the late charge and another fee. Can they make a case against me? A: If you continuously default the EMIs for at least three months, then only there will be an initiation of any kind of legal action against you…

Anitha Rajeev · Accepted Answer

Dear Questioner,

Thanks for contacting online.

If you have paid all the dues pending like the financial charges, interests and defaulted EMIs, the bank will not file any case against you.

If you continuously default the EMIs for at least three months, then only there will be an initiation of any kind of legal action against you.

Regards,

Anitha Rajeev

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