Car Loan NPA | Vkeel - Free Legal Advice

Abhilash

Mysuru

I have car loan with Vijaya Bank(Now Bank of Baroda). I was not able to pay 3 emis and loan turned into NPA. After getting notice I tried to pay outstanding due but only managed to pay 1 day after notice period ended. I have paid outstanding due and one month advance emi as requested by bank. But now bank manager turned down with his old promise and now asking to pay complete remaining 24 months emi at one shot. What is the legal option I have to save my car from repossession?

Expert's Answers(4)

Kishan Dutt Kalaskar 40 years Exp (Retired Judge)
Bengaluru Urban, Karnataka

187 Client Ratings

Dear Sir, You may get issue a legal notice or approach Banking Ombudsman.

January 28, 2020
Advocate Rupin Singh Dhama
Delhi, Delhi

1 Client Ratings

send a notice to bank and after that if they are not agree. file a consumer case against bank for harassment.

January 25, 2020
Advocate Bashisth Prasad Singh
Patna, Bihar

1 Client Ratings

The car loan is secured against the car you have purchased, which means the car serves as collateral for the car loan.If you default on your repayments, the bank can seize the car. The bank retains ownership over the car until you make the final payment.

January 23, 2020
Advocate Srinivas G D
Bengaluru, Karnataka

19 Client Ratings

NPA will only apply Business Loans. You must have availed car from one of MNC bank. Contact any Lawyer who will assist you in solving your Case.

January 23, 2020