Personal Loan Trouble? Five Smart Moves to Avoid Legal Escalation
Business
M
Moneycontrol•20-01-2026, 14:01
Personal Loan Trouble? Five Smart Moves to Avoid Legal Escalation
- •Missing one EMI doesn't mean legal trouble; default is classified after multiple missed payments.
- •Engage with your lender proactively to discuss restructuring or temporary relief options.
- •Document all communications to create a paper trail showing good faith efforts.
- •Don't ignore recovery calls, but know your rights and report abusive behavior.
- •Assess your finances honestly, prioritize payments, and consider professional financial advice.
Why It Matters: Proactive communication and honest financial assessment are key to preventing legal escalation on personal loans.
✦
More like this
Loading more articles...
