• Loan default, summoned to civil court

I had taken a loan from HDFC bank and 60K of the loan is remaining. I have not being able to pay for last 3 months as i have been unemployed for the last 6 months. 
Now the bank has summoned me to the civil court in hyderabad to appear before a judge. 
What kind of punishment or consequence can i face?
Asked 4 years ago in Civil Law from Hyderabad, Andhra Pradesh
You can submit a application in court for taken some time for paying your loan amount and court decides your application and give some times for paying loan amount under such conditions. Court can orders for paying loan amount in monthly basis. 
Sukhendra Kumar Pandey
Advocate, Satna
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