What if you are not able to pay your loan?
A lender have filed a summary suit under order 37 to me. But now I have no assets or money in bank to payback his loan. 1. How to defend myself in this case? 2. Will I go to jail for not able to payback money as I have no stable income or money or asset to payback 3. My parents and wife hv disowned me. So can lender get my parents or wife assets attached to recover his money?
Start by filing a written statement, Respond to the suit by filing a written statement with the court, detailing your defense. Highlight your lack of assets or income to support repayment. Typically defaulters do not go to jail for failing to repay loans. Yes, lenders can attach assets of your parents or wife to recover money if you owe them.
Sir, you need to be present in the court so that you will not get into more problems i.e. if you are not present in court on the date of hearing, court may issue warrant against you. We would suggest you to hire an exert lawyer who can guide you a way out. For further legal assistance contact us on our helpline number.
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