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Depositing the security cheque by bank due to failing to pay a loan installment

Can the bank deposit my security cheque if I fail to pay any loan installment?

How do I act in this situation?

Right Just Is Lawyers and Consultants
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9 Jun 2021, 07:29

Hi,

Of course, the bank can deposit the cheque for unpaid installments of the whole security cheque amount if the amount is already written on the cheque.

Banks usually do not deposit after 1 installment, but sometimes they do.

Momentum Legal & Management Consultancy
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9 Jun 2021, 14:25

If you are not in default, we need to review the full case in order to advise if there is a breach of trust from the bank side or not.

In addition to objecting to the criminal action taken.

For further assistance, kindly contact us via phone or email.

Regards,

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