MY RELETIVE WAS TAKEN A WEHICLE LOAN IN FIRST TWO-THREE INSTALLMENTS HE PAID OF RS.5500 BUT AS PER HIS POOR CONDITION HE WANT TO DO INSTALLMENTS LESS THEN RS.4000.
IT'S POSSIBLE OR NOT.
LOAN IN INDUSLAND BANK
IF BANK REFUSED TO DO IT THEN WHAT ACTION WE SHOULD TAKEN PLEASE GIVE ME REPLY
01 May 2012
It's possible to restructure the EMIs. Approach your bank with the reason for reduction in the repaying ability of the borrower. However, I don't think you can take any action for refusal on the part of the bank. Usually loans are easily restructured.
CAclubindia
