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Before COVID, everything was fine, but I lost my job during COVID. I took some loans and used credit cards during my job loss. I was jobless for 18 months and, after that, I got a low-paying job. My mother passed away due to cancer, and I had to contribute to her treatment. Shortly after, my father was diagnosed with colon cancer. I haven’t paid any EMIs or credit card dues for 1.5 years. Now, the banks are sending legal notices. Can the bank file a criminal case against me? Will I face imprisonment? I can't afford to pay in the future either. Please suggest a solution.
Banks cannot file a criminal case for non-payment of loans or credit card dues. However, they can file a civil suit for recovery. You should consult a financial advisor to negotiate a settlement or restructuring of payments. In extreme cases, the bank may take legal action, but imprisonment is unlikely for non-payment alone. For further legal assistance contact us on our helpline number.