Regarding peronal load(unsecured) in india..i am unable to repay the amount so wat happens in worest case?

Question

Hi im unable to pay unsecured perosnal loan in india so wat happens in worst cases..as of now im staying in london i dont have job...so i cant repay them in india ..so wat the bank do now?..do they complain to london police? and do they put case in india court ..if so wat court decides..pllzzz let me know in detail ..even im planning to go back in india..WORST CASE WAT THE BANK PEOPLE DO.....PLZZ LET ME KNOW IN DETAIL.. I KNOW THEY PUT SOME AGENCY I MEAN RECOVERY PEOPLE BUT AFTER THAT WAT THEY DOOO? PLZZ GIVE PERFECT AND DETAIL ANSWER

Answer 1

hi,

First bank will Inform CIBIL this will swrew up your credit rating in india. www.cibil.com

Next three month bank will give the case to soft collection agency.

After that they will file sec 138 NI Act, this is cheque bounce case.

Court will send you a summons to your address which is their in application form.

Same time case will be given to skip tracing agency.( and trust me they are good) and if it is your bad time if they get in touch with your family member.Unnecessary they will get harresed.

As you are not in india summons will not be served, after 3 summons , arrest warent will be issued by the court. which again will be unserved.

after which if bank wants they will serve the arrest warrent through news papers.  And they can even go for paper publiction of your photograph.

Dont worry they will not inform london police.

hope i am clear if you still have doubts you can mail me.

Answer 2

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Thanks.

Answer 3

either u get beaten up very dadly by recovery agents or you go to jail for this fraud. borrowing money and then not paying it back is a fraud. do u think u will never come back to India.????