How can I legally reverse multiple loans ?
How can I reverse my loan? I wanted one loan but received eight instead, and I can't afford to pay them back.
If you received multiple loans by mistake and cannot afford to repay them, reach out to each lender, explaining that you only intended to take one loan but received multiple instead. They may agree to cancel or consolidate the loans if an error occurred. Consider consulting a credit counseling service. They can help negotiate a manageable repayment plan or guide you in consolidating the loans. If lenders don’t cooperate, consult a lawyer to explore legal options and ensure your rights are protected.
Sir, firstly you should review the loan agreement regarding the option for cancellation and modification. You should contact the lender in an amicable manner to discuss your situation and request a written communication to avoid any future disputes. It is advised to consult an expert lawyer who will assist you with the best course of action. For further legal assistance contact us on our helpline number.
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