#1
9th September 2019, 03:28 PM
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What will happen if unable to pay loan amount within 3 months against personal loan taken for education purpose?
Hello Sir, I have taken a personal loan for education purpose. After checking the terms and conditions, I came to know that I have to pay the loan amount within 3 months. I don’t understand. I just want to know what will happen if loan amount remains unpay within 3 months?
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#2
4th April 2022, 08:57 PM
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Defaulting on loan is a civil dispute . Criminal charges can't be put on a person for loan default .
When a candidate is unable to make repayment on their education loan , then they may receive notices and warnings from the lender. If they fail to comply with the same , then the lender is legally entitled to the assets been mortgaged. The property and asset can be auctioned used by the lender. |
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