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Author Topic: Cheque bounced_Personal loan_Section 138  (Read 1709 times)

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Offline Anoop8528

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Cheque bounced_Personal loan_Section 138
« on: June 18, 2015, 01:45:42 AM »
Hi Sir, I had took a personal loan in the amount of 1.42 lakh on December 2013, but on march 2014 I lost my job n was not able to pay march, April 2014, may 2014, June 2014, July  2014 emi. Bank contacted me on July n I told them tat I will start paying them as soon as I get a job. So on August 2014 I paid them 2 months emi, same 2 months emi on September 2014 as well. The emi for one month is around 5350. I have a salary of 16k. It was becoming difficult for me to pay two months emi each month. So I was paying them one emi regularly each month. But on January 2015 they presented a cheque of 1.42 lac to my bank account which got returned. Then after a month or so I got a notice from an advocate to pay the full amount or else they will file a case against me. I talked with the manager n he said either pay d full amount or pay the over due amount which came around 24k. I told him my situation but he said he do not have any option. But the guy who comes to collect the cash said it's okay u pay the monthly one nothing wud happen. But now June 2015 I got a summon of section 138 for bounced cheque. Me n my family depends upon my salary. I do not have any option to pay d full amount. I can pay d monthly installment. What should I do? Suicide is only option left for me

Offline kphk

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Re: Cheque bounced_Personal loan_Section 138
« Reply #1 on: June 18, 2015, 10:33:21 AM »
Who presented the cheque ? When did you issue "them" the cheque ? For what purpose ? Dont worry, to err is human and I am sure whoever "they" are they would have made lots of mistakes which can be used to our advantage. Meanwhile you keep paying the emi's promptly.

Offline advocate.kapilc

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Re: Cheque bounced_Personal loan_Section 138
« Reply #2 on: July 05, 2015, 03:22:18 AM »
Sir,

Only option left with you is to settle the matter, because the legal liability to repay the cheque is a matter of record and therefore it is advisable to settle the matter out of the court.

Warm Regards
Kapil Chandna Advocate
9899011450

 

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